Fiscal Policy Multipliers in Small States is popular PDF and ePub book, written by Ali Alichi in 2019-03-26, 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, Fiscal Policy Multipliers in Small States can be Read Online from any device for your convenience.
Fiscal Policy Multipliers in Small States Book PDF Summary
Government debt in many small states has risen beyond sustainable levels and some governments are considering fiscal consolidation. This paper estimates fiscal policy multipliers for small states using two distinct models: an empirical forecast error model with data from 23 small states across the world; and a Dynamic Stochastic General Equilibrium (DSGE) model calibrated to a hypothetical small state’s economy. The results suggest that fiscal policy using government current primary spending is ineffective, but using government investment is very potent in small states in affecting the level of their GDP over the medium term. These results are robust to different model specifications and characteristics of small states. Inability to affect GDP using current primary spending could be frustrating for policymakers when an expansionary policy is needed, but encouraging at the current juncture when many governments are considering fiscal consolidation. For the short term, however, multipliers for government current primary spending are larger and affected by imports as share of GDP, level of government debt, and position of the economy in the business cycle, among other factors.
Detail Book of Fiscal Policy Multipliers in Small States PDF
- Author : Ali Alichi
- Release : 26 March 2019
- Publisher : International Monetary Fund
- ISBN : 9781498303996
- Genre : Business & Economics
- Total Page : 39 pages
- Language : English
- PDF File Size : 20,7 Mb
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