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Displaying results 1 to 2 of 2.

  1. Expansionary fiscal austerity
    new international evidence
    Author: Nie, Owen
    Published: July 2020
    Publisher:  World Bank Group, Finance, Competitiveness and Innovation Global Practice, Washington, DC, USA

    The expansionary fiscal contraction (EFC) hypothesis states that fiscal austerity can increase output or consumption when a country is under heavy debt burdens because it sends positive signal about the country's solvency situation and long-term... more

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Unter den Linden
    Inter-library loan:
    Unlimited inter-library loan, copies and loan

     

    The expansionary fiscal contraction (EFC) hypothesis states that fiscal austerity can increase output or consumption when a country is under heavy debt burdens because it sends positive signal about the country's solvency situation and long-term economic wellbeing. Empirical tests of this hypothesis have suffered from identification concerns due to data sources and empirical methodology. Using a sample of OECD countries between 1978 and 2014, this paper combines new IMF narrative data and the proxy structural Vector Auto-regression (SVAR) method to examine whether fiscal austerities can be expansionary when debt levels are high. Fiscal austerities are measured as 1) narrative fiscal shocks and 2) structural shocks from a proxy SVAR. Additionally, this paper uses a model-based approach to determine the cutoff debt level beyond which EFC is expected to be observed. This paper finds empirical evidence in support of the EFC hypothesis for OECD countries: results for output are driven by changes in tax rates and are robust to how one defines a high-debt regime and how one measures austerity

     
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    Content information
    Volltext (kostenfrei)
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10986/34262
    Series: Policy research working paper ; 9344
    Subjects: AUSTERITY; DEBT BURDEN; DEBT SUSTAINABILITY; ECONOMIC CRISIS; ECONOMIC SHOCK; FISCAL CONSOLIDATION; FISCAL POLICY; FISCAL SHOCK; STRUCTURAL VECTOR AUTOREGRESSION
    Scope: 1 Online-Ressource (circa 35 Seiten), Illustrationen
    Notes:

    Gesehen am 10.08.2020
  2. Expansionary fiscal austerity
    new international evidence
    Author: Nie, Owen
    Published: July 2020
    Publisher:  World Bank Group, Finance, Competitiveness and Innovation Global Practice, Washington, DC, USA

    The expansionary fiscal contraction (EFC) hypothesis states that fiscal austerity can increase output or consumption when a country is under heavy debt burdens because it sends positive signal about the country's solvency situation and long-term... more

    Location:
    Orient-Institut Beirut
    Signature:
    Online
    Inter-library loan:
    No inter-library loan

    Location:
    Staatsbibliothek zu Berlin - Preußischer Kulturbesitz, Haus Potsdamer Straße
    Inter-library loan:
    No inter-library loan

    Location:
    Universitätsbibliothek Clausthal
    Inter-library loan:
    No inter-library loan

    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Inter-library loan:
    No inter-library loan

    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht, Bibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Fachhochschule Kiel, Zentralbibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    LZ 160
    Inter-library loan:
    No inter-library loan

    Location:
    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
    Inter-library loan:
    No inter-library loan

     

    The expansionary fiscal contraction (EFC) hypothesis states that fiscal austerity can increase output or consumption when a country is under heavy debt burdens because it sends positive signal about the country's solvency situation and long-term economic wellbeing. Empirical tests of this hypothesis have suffered from identification concerns due to data sources and empirical methodology. Using a sample of OECD countries between 1978 and 2014, this paper combines new IMF narrative data and the proxy structural Vector Auto-regression (SVAR) method to examine whether fiscal austerities can be expansionary when debt levels are high. Fiscal austerities are measured as 1) narrative fiscal shocks and 2) structural shocks from a proxy SVAR. Additionally, this paper uses a model-based approach to determine the cutoff debt level beyond which EFC is expected to be observed. This paper finds empirical evidence in support of the EFC hypothesis for OECD countries: results for output are driven by changes in tax rates and are robust to how one defines a high-debt regime and how one measures austerity

     
    Export to reference management software   RIS file
      BibTeX file
    Content information
    Volltext (kostenfrei)
    Source: Staatsbibliothek zu Berlin
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10986/34262
    Series: Policy research working paper ; 9344
    Subjects: AUSTERITY; DEBT BURDEN; DEBT SUSTAINABILITY; ECONOMIC CRISIS; ECONOMIC SHOCK; FISCAL CONSOLIDATION; FISCAL POLICY; FISCAL SHOCK; STRUCTURAL VECTOR AUTOREGRESSION
    Scope: 1 Online-Ressource (circa 35 Seiten), Illustrationen
    Notes:

    Gesehen am 10.08.2020