Estimating Fiscal Multipliers with Correlated Heterogeneity is popular PDF and ePub book, written by Emmanouil Kitsios in 2016-02-04, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Estimating Fiscal Multipliers with Correlated Heterogeneity can be Read Online from any device for your convenience.
Estimating Fiscal Multipliers with Correlated Heterogeneity Book PDF Summary
We estimate the average fiscal multiplier, allowing multipliers to be heterogeneous across countries or over time and correlated with the size of government spending. We demonstrate that this form of nonseparable unobserved heterogeneity is empirically relevant and address it by estimating a correlated random coefficient model. Using a panel dataset of 127 countries over the period 1994-2011, we show that not accounting for omitted heterogeneity produces a significant downward bias in conventional multiplier estimates. We rely on both crosssectional and time-series variation in spending shocks, exploiting the differential effects of oil price shocks on fuel subsidies, to identify the average government spending multiplier. Our estimates of the average multiplier range between 1.4 and 1.6.
Detail Book of Estimating Fiscal Multipliers with Correlated Heterogeneity PDF
- Author : Emmanouil Kitsios
- Release : 04 February 2016
- Publisher : International Monetary Fund
- ISBN : 9781498389808
- Genre : Business & Economics
- Total Page : 51 pages
- Language : English
- PDF File Size : 16,5 Mb
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