| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w27652
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| 来源ID | Working Paper 27652
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| Trade Flows and Fiscal Multipliers |
| Matteo Cacciatore; Nora Traum
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| 发表日期 | 2020-08-10
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| 出版年 | 2020
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| 语种 | 英语
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| 摘要 | We present novel insights on the role of international trade following unanticipated government spending and income tax changes in a flexible exchange rate environment. In a simple two-country, two-good model, we show analytically that fiscal multipliers can be larger in economies more open to trade, even when fiscal expansions imply a trade deficit. Cross-country comovement can be positive or negative. Three factors determine how trade linkages affect fiscal multipliers: the relative import share of public and private goods, how the government finances its budget, and the currency invoicing of exports. A Bayesian prior-predictive analysis shows a quantitative international business-cycle model bears the same predictions. Estimating the model on Canadian and U.S. data, we find support for larger multipliers relative to a counterfactually closed economy and positive cross-country spillovers. |
| 主题 | Macroeconomics
; Consumption and Investment
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| URL | https://www.nber.org/papers/w27652
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/585324
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推荐引用方式
GB/T 7714 |
Matteo Cacciatore,Nora Traum. Trade Flows and Fiscal Multipliers. 2020.
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文件名：
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w27652.pdf
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格式：
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Adobe PDF
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