The Economic Effects of Fiscal Consolidation with Debt Feedback is popular PDF and ePub book, written by Mr.Marcello M. Estevão in 2013-05-31, 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, The Economic Effects of Fiscal Consolidation with Debt Feedback can be Read Online from any device for your convenience.
The Economic Effects of Fiscal Consolidation with Debt Feedback Book PDF Summary
The past several years of recession and slow recovery have raised much interest on the effect of fiscal stimulus on economic activity, even as high public debts in many countries would call for fiscal consolidation. To evaluate the delicate balance between stimulus and consolidation requires measuring the size of fiscal multipliers, which often depends on having quarterly data so that exogenous fiscal policy shocks can be identified. We estimate fiscal multipliers using a novel methodology for identifying fiscal shocks within a structural vector autoregressive approach using annual data while controling for debt feedback effects. The estimation focuses on regions with scarce quarterly data (mostly low-income countries), and uses results for advanced economies, emerging market countries, and other broad groupings for which alternative estimates are available to validate the methodology. Differently from advanced and emerging market economies, fiscal consolidation in low-income countries has only a small temporary negative effect on growth while raising medium-term output. Shifting the composition of public spending toward capital expenditure further supports long-run growth.
Detail Book of The Economic Effects of Fiscal Consolidation with Debt Feedback PDF
- Author : Mr.Marcello M. Estevão
- Release : 31 May 2013
- Publisher : International Monetary Fund
- ISBN : 9781484304488
- Genre : Business & Economics
- Total Page : 51 pages
- Language : English
- PDF File Size : 20,8 Mb
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