Search results for "fiscal stimulu"

showing 4 items of 4 documents

Fiscal Adjustment and Business Cycle Synchronization

2013

Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii) a positive effect of bilateral trade on the synchronization of business cycles.

Bilateral tradeStimulus (economics)Consolidation (business)jel:C41Inflation targetingjel:E62EconomicsBusiness cycleMonetary economicsBusiness cycle synchronizationFiscal consolidation fiscal stimulus business cycle synchronizationSSRN Electronic Journal
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Effects of Fiscal Stimulus in Structural Models

2010

The paper assesses, using seven structural models used heavily by policymaking institutions, the effectiveness of temporary fiscal stimulus. Models can, more easily than empirical studies, account for differences between fiscal instruments, for differences between structural characteristics of the economy, and for monetary-fiscal policy interactions. Findings are: (i) There is substantial agreement across models on the sizes of fiscal multipliers. (ii) The sizes of spending and targeted transfers multipliers are large. (iii) Fiscal policy is most effective if it has some persistence and if monetary policy accommodates it. (iv) The perception of permanent fiscal stimulus leads to significant…

InflationWestern hemisphereStimulus (economics)media_common.quotation_subjectjel:E62Monetary policyMonetary economicsjel:E52jel:E12Fiscal policyjel:E13Economics Econometrics and Finance (all)2001 Economics Econometrics and Finance (miscellaneous)Empirical researchGeneral [Fiscal stimulus;Fiscal policy;Fiscal Multipliers Government Deficits inflation real interest rate aggregate demand Open Economy Macroeconomics International Policy Coordination and Transmission Fiscal Policies and Behavior of Economic Agents]PerceptionDynamic stochastic general equilibriumEconomicsGeneral Earth and Planetary SciencesReal interest rateGeneral Economics Econometrics and FinanceAggregate demandGeneral Environmental Sciencemedia_common
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Fiscal Adjustments and Business Cycle Synchronization

2013

Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii) a positive effect of bilateral trade on the synchronization of business cycles

Settore SECS-P/02 Politica Economicafiscal consolidation fiscal stimulus business cycle synchronization
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HOW DO FISCAL CONSOLIDATION AND FISCAL STIMULI IMPACT ON THE SYNCHRONIZATION OF BUSINESS CYCLES?

2017

Using quarterly data for a panel of advanced economies, we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked. We also find: (i) some evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization when countries fix their exchange rates and become members of a monetary union; (iii) a positive effect of bilateral trade on the synchronization of business cycles. Global factors, such as a rise in global risk aversion and uncertainty and a reversal of nonstandard expansionary monetary policy, can also reduce the degree of co-movement of busi…

fiscal consolidationEconomics and EconometricsC41Fiscal consolidationJEL classification numbersFiscal stimulusbusiness cycle synchronizationE62Business cycle synchronizationfiscal stimulu
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