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Capek, J. & Crespo Cuaresma, J. (2018). We just estimated twenty million fiscal multipliers. Department of Economics Working Paper Series, 268. Department of Economics, University of Economics and Business, Vienna.
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Abstract
We analyse the role played by data and specification choices as determinants of the size of the fiscal multipliers obtained using structural vector autoregressive models. The results, based on over twenty million fiscal multiplier estimated for European countries, indicate that many seemingly harmless modelling choices have a significant effect on the size and precision of fiscal multiplier estimates. In addition to the structural shock identification strategy, these modelling choices include the definition of spending and taxes, the national accounts system employed, the use of particular interest rates or inflation measures, or whether data are smoothed prior to estimation.
| Item Type: | Other |
|---|---|
| Uncontrolled Keywords: | fiscal multiplier, structural VAR, meta-analysis |
| Research Programs: | World Population (POP) |
| Depositing User: | Michaela Rossini |
| Date Deposited: | 05 Nov 2019 12:46 |
| Last Modified: | 27 Aug 2021 17:32 |
| URI: | https://pure.iiasa.ac.at/16149 |
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