Publicação
Fiscal multipliers in the Eurozone : a SVAR analysis
| Resumo: | We compute the value of fiscal multipliers (for government primary expenditure, Income and wealth taxes and for Production and import ones) in the Eurozone countries since the creation of the currency union (2001Q1-2016Q4), and to understand how the values may vary according to the public debt level, the rhythm of economic growth and the output gap. Imposing quarterly fiscal shocks in the period 2000-2016, the results shown that the government expenditure had a positive effect on output, with an annual accumulated multiplier of 0.64 while the tax multipliers presented negative signs - the Income and wealth and the Production and import taxes stood at -0.10 and -0.32, respectively. Furthermore, the multipliers shown higher values for countries with higher levels of public debt (to small levels, the expenditure multiplier is close to zero and the tax multipliers seem to have positive signs), during recessions, and in countries with positive output gaps. |
|---|---|
| Autores principais: | Afonso, António |
| Outros Autores: | Leal, Frederico Silva |
| Assunto: | Fiscal multiplier Structural VAR Fiscal policy |
| Ano: | 2018 |
| País: | Portugal |
| Tipo de documento: | working paper |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| _version_ | 1866810414758625280 |
|---|---|
| author | Afonso, António |
| author2 | Leal, Frederico Silva |
| author2_role | author |
| author_facet | Afonso, António Leal, Frederico Silva |
| author_role | author |
| contributor_name_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Afonso, António\"},{\"Person.name\":\"Leal, Frederico Silva\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| datacite.creators.creator.creatorName.fl_str_mv | Afonso, António Leal, Frederico Silva |
| datacite.date.Accepted.fl_str_mv | 2018-08-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2018-10-01T13:03:15Z |
| datacite.date.embargoed.fl_str_mv | 2018-10-01T13:03:15Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Fiscal multiplier Structural VAR Fiscal policy |
| datacite.titles.title.fl_str_mv | Fiscal multipliers in the Eurozone : a SVAR analysis |
| dc.contributor.none.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| dc.creator.none.fl_str_mv | Afonso, António Leal, Frederico Silva |
| dc.date.Accepted.fl_str_mv | 2018-08-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2018-10-01T13:03:15Z |
| dc.date.embargoed.fl_str_mv | 2018-10-01T13:03:15Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.5/16028 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | ISEG - REM - Research in Economics and Mathematics |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Fiscal multiplier Structural VAR Fiscal policy |
| dc.title.fl_str_mv | Fiscal multipliers in the Eurozone : a SVAR analysis |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_8042 |
| description | We compute the value of fiscal multipliers (for government primary expenditure, Income and wealth taxes and for Production and import ones) in the Eurozone countries since the creation of the currency union (2001Q1-2016Q4), and to understand how the values may vary according to the public debt level, the rhythm of economic growth and the output gap. Imposing quarterly fiscal shocks in the period 2000-2016, the results shown that the government expenditure had a positive effect on output, with an annual accumulated multiplier of 0.64 while the tax multipliers presented negative signs - the Income and wealth and the Production and import taxes stood at -0.10 and -0.32, respectively. Furthermore, the multipliers shown higher values for countries with higher levels of public debt (to small levels, the expenditure multiplier is close to zero and the tax multipliers seem to have positive signs), during recessions, and in countries with positive output gaps. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | workingPaper |
| fulltext.url.fl_str_mv | https://repositorio.ulisboa.pt/bitstreams/e746178c-5132-42d1-ba80-6b91751857d4/download |
| id | ul_6848c1916dcbc1728cde6d35bf45d7c0 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10400.5/16028 |
| instacron_str | ul |
| institution | Universidade de Lisboa |
| instname_str | Universidade de Lisboa |
| language | eng |
| network_acronym_str | ul |
| network_name_str | Repositório da Universidade de Lisboa |
| oai_identifier_str | oai:repositorio.ulisboa.pt:10400.5/16028 |
| organization_str_mv | urn:organizationAcronym:ul |
| person_str_mv | Afonso, António Leal, Frederico Silva |
| publishDate | 2018 |
| publisher.none.fl_str_mv | ISEG - REM - Research in Economics and Mathematics |
| reponame_str | Repositório da Universidade de Lisboa |
| repository_id_str | urn:repositoryAcronym:ul |
| service_str_mv | urn:repositoryAcronym:ul |
| spelling | engISEG - REM - Research in Economics and Mathematicspt_PTWe compute the value of fiscal multipliers (for government primary expenditure, Income and wealth taxes and for Production and import ones) in the Eurozone countries since the creation of the currency union (2001Q1-2016Q4), and to understand how the values may vary according to the public debt level, the rhythm of economic growth and the output gap. Imposing quarterly fiscal shocks in the period 2000-2016, the results shown that the government expenditure had a positive effect on output, with an annual accumulated multiplier of 0.64 while the tax multipliers presented negative signs - the Income and wealth and the Production and import taxes stood at -0.10 and -0.32, respectively. Furthermore, the multipliers shown higher values for countries with higher levels of public debt (to small levels, the expenditure multiplier is close to zero and the tax multipliers seem to have positive signs), during recessions, and in countries with positive output gaps.application/pdfpt_PTFiscal multipliers in the Eurozone : a SVAR analysisAfonso, AntónioLeal, Frederico SilvaHostingInstitutionOrganizationalRepositório Científico de Acesso Aberto da ULisboae-mailmailto:repositorio@reitoria.ulisboa.ptrepositorio@reitoria.ulisboa.ptISSNIsPartOf2184-108X2018-10-01T13:03:15Z2018-082018-08-01T00:00:00ZHandlehttp://hdl.handle.net/10400.5/16028http://purl.org/coar/access_right/c_abf2open accessFiscal multiplierStructural VARFiscal policy539489 bytesother research producthttp://purl.org/coar/resource_type/c_8042working paperhttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://repositorio.ulisboa.pt/bitstreams/e746178c-5132-42d1-ba80-6b91751857d4/download |
| spellingShingle | Fiscal multipliers in the Eurozone : a SVAR analysis Afonso, António Fiscal multiplier Structural VAR Fiscal policy |
| status | SINGLETON |
| subject.fl_str_mv | Fiscal multiplier Structural VAR Fiscal policy |
| title | Fiscal multipliers in the Eurozone : a SVAR analysis |
| title_full | Fiscal multipliers in the Eurozone : a SVAR analysis |
| title_fullStr | Fiscal multipliers in the Eurozone : a SVAR analysis |
| title_full_unstemmed | Fiscal multipliers in the Eurozone : a SVAR analysis |
| title_short | Fiscal multipliers in the Eurozone : a SVAR analysis |
| title_sort | Fiscal multipliers in the Eurozone : a SVAR analysis |
| topic | Fiscal multiplier Structural VAR Fiscal policy |
| topic_facet | Fiscal multiplier Structural VAR Fiscal policy |
| url | http://hdl.handle.net/10400.5/16028 |
| visible | 1 |