Finance and Economics Discussion Series: The Analytics of SVARs: A Unified Framework to Measure Fiscal Multipliers

 
9781288698028: Finance and Economics Discussion Series: The Analytics of SVARs: A Unified Framework to Measure Fiscal Multipliers

Does fiscal policy stimulate output? SVARs have been used to address this question but no stylized facts have emerged. We derive analytical relationships between the output elasticities of fiscal variables and fiscal multipliers. We show that standard identification schemes imply different priors on elasticities, generating a large dispersion in multiplier estimates. We then use extra-model information to narrow the set of empirically plausible elasticities, allowing for sharper inference on multipliers. Our results for the U.S. for the period 1947-2006 suggest that the probability of the tax multiplier being larger than the spending multiplier is below 0.5 at all horizons.

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Dario Caldara, Christophe Kamps
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Book Description Bibliogov, United States, 2013. Paperback. Book Condition: New. Language: English . Brand New Book ***** Print on Demand *****.Does fiscal policy stimulate output? SVARs have been used to address this question but no stylized facts have emerged. We derive analytical relationships between the output elasticities of fiscal variables and fiscal multipliers. We show that standard identification schemes imply different priors on elasticities, generating a large dispersion in multiplier estimates. We then use extra-model information to narrow the set of empirically plausible elasticities, allowing for sharper inference on multipliers. Our results for the U.S. for the period 1947-2006 suggest that the probability of the tax multiplier being larger than the spending multiplier is below 0.5 at all horizons. Bookseller Inventory # AAV9781288698028

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Book Description BiblioGov, 2016. Paperback. Book Condition: New. PRINT ON DEMAND Book; New; Publication Year 2016; Not Signed; Fast Shipping from the UK. No. book. Bookseller Inventory # ria9781288698028_lsuk

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Dario Caldara
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Book Description Bibliogov, United States, 2013. Paperback. Book Condition: New. Language: English . Brand New Book ***** Print on Demand *****. Does fiscal policy stimulate output? SVARs have been used to address this question but no stylized facts have emerged. We derive analytical relationships between the output elasticities of fiscal variables and fiscal multipliers. We show that standard identification schemes imply different priors on elasticities, generating a large dispersion in multiplier estimates. We then use extra-model information to narrow the set of empirically plausible elasticities, allowing for sharper inference on multipliers. Our results for the U.S. for the period 1947-2006 suggest that the probability of the tax multiplier being larger than the spending multiplier is below 0.5 at all horizons. Bookseller Inventory # AAV9781288698028

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Book Description BiblioGov. Paperback. Book Condition: New. This item is printed on demand. Paperback. 72 pages. Dimensions: 9.5in. x 7.4in. x 0.3in.Does fiscal policy stimulate output SVARs have been used to address this question but no stylized facts have emerged. We derive analytical relationships between the output elasticities of fiscal variables and fiscal multipliers. We show that standard identification schemes imply different priors on elasticities, generating a large dispersion in multiplier estimates. We then use extra-model information to narrow the set of empirically plausible elasticities, allowing for sharper inference on multipliers. Our results for the U. S. for the period 1947-2006 suggest that the probability of the tax multiplier being larger than the spending multiplier is below 0. 5 at all horizons. This item ships from La Vergne,TN. Paperback. Bookseller Inventory # 9781288698028

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Dario Caldara; Christophe Kamps
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Book Description BiblioGov, 2013. Paperback. Book Condition: New. book. Bookseller Inventory # M128869802X

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