Effects of fiscal stimulus in structural models

Davide Furceri; René Lalonde; Dirk Muir; Susanna Mursula; Mathias Trabandt; Stephen Snudden; Carlos De Resende; Werner Roeger; Jesper Lindé; Douglas Laxton; Jan In'T Veld; John Roberts; Michael Kumhof; Günter Coenen; Charles Freedman; Christopher J. Erceg; Annabelle Mourougane

Effects of fiscal stimulus in structural models

Davide Furceri, René Lalonde, Dirk Muir, Susanna Mursula, Mathias Trabandt, Stephen Snudden, Carlos De Resende, Werner Roeger, Jesper Lindé, Douglas Laxton, Jan In'T Veld, John Roberts, Michael Kumhof, Günter Coenen, Charles Freedman, Christopher J. Erceg, Annabelle Mourougane

Scienze Economiche, Aziendali e Statistiche

Risultato della ricerca: Article › peer review

197 Citazioni (Scopus)

Abstract

The paper subjects seven structural DSGE models, all used heavily by policymaking institutions, to discretionary fiscal stimulus shocks using seven different fiscal instruments, and compares the results to those of two prominent academic DSGE models. There is considerable agreement across models on both the absolute and relative sizes of different types of fiscal multipliers. The size of many multipliers is large, particularly for spending and targeted transfers. Fiscal policy is most effective if it has moderate persistence and if monetary policy is accommodative. Permanently higher spending or deficits imply significantly lower initial multipliers.

Lingua originale	English
pagine (da-a)	22-68
Numero di pagine	47
Rivista	AMERICAN ECONOMIC JOURNAL. MACROECONOMICS
Volume	4
Stato di pubblicazione	Published - 2012

All Science Journal Classification (ASJC) codes

Economics, Econometrics and Finance(all)

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Effects of fiscal stimulus in structural models. / Furceri, Davide; Lalonde, René; Muir, Dirk; Mursula, Susanna; Trabandt, Mathias; Snudden, Stephen; De Resende, Carlos; Roeger, Werner; Lindé, Jesper; Laxton, Douglas; In'T Veld, Jan; Roberts, John; Kumhof, Michael; Coenen, Günter; Freedman, Charles; Erceg, Christopher J.; Mourougane, Annabelle.

In: AMERICAN ECONOMIC JOURNAL. MACROECONOMICS, Vol. 4, 2012, pag. 22-68.

Risultato della ricerca: Article › peer review

Furceri, Davide ; Lalonde, René ; Muir, Dirk ; Mursula, Susanna ; Trabandt, Mathias ; Snudden, Stephen ; De Resende, Carlos ; Roeger, Werner ; Lindé, Jesper ; Laxton, Douglas ; In'T Veld, Jan ; Roberts, John ; Kumhof, Michael ; Coenen, Günter ; Freedman, Charles ; Erceg, Christopher J. ; Mourougane, Annabelle. / Effects of fiscal stimulus in structural models. In: AMERICAN ECONOMIC JOURNAL. MACROECONOMICS. 2012 ; Vol. 4. pagg. 22-68.

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AU - Furceri, Davide

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AU - Muir, Dirk

AU - Mursula, Susanna

AU - Trabandt, Mathias

AU - Snudden, Stephen

AU - De Resende, Carlos

AU - Roeger, Werner

AU - Lindé, Jesper

AU - Laxton, Douglas

AU - In'T Veld, Jan

AU - Roberts, John

AU - Kumhof, Michael

AU - Coenen, Günter

AU - Freedman, Charles

AU - Erceg, Christopher J.

AU - Mourougane, Annabelle

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KW - Econometrics and Finance (all)2001 Economics

KW - Econometrics and Finance (miscellaneous)

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KW - Econometrics and Finance (all)2001 Economics

KW - Econometrics and Finance (miscellaneous)

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