Should We Use Linearized Models to Calculate Fiscal Multipliers?

Russia’s fiscal stimulus and fiscal sustainability

Voprosy Ekonomiki ◽

10.32609/0042-8736-2013-10-90-108 ◽

2013 ◽

pp. 90-108 ◽

Cited By ~ 2

Author(s):

N. Akindinova ◽

N. Kondrashov ◽

A. Cherniavsky

Keyword(s):

Government Spending ◽

Public Expenditure ◽

Oil Prices ◽

Fiscal Sustainability ◽

Macroeconomic Model ◽

Sharp Drop ◽

Fiscal Stimulus ◽

Fiscal Multipliers ◽

Russian Economy ◽

The Impact

This study examines the impact of public expenditure on economic growth in Russia. Fiscal multipliers for various items of government spending are calculated by means of our macroeconomic model of the Russian economy. Resources for fiscal stimulus and optimization are analyzed. In this study we assess Russia’s fiscal sustainability in conditions of various levels of oil prices. We conclude that fiscal stimulus is ineffective in Russia, while fiscal sustainability in conditions of a sharp drop in oil prices is relatively low.

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Three States of Fiscal Multipliers in a Small Open Economy

SSRN Electronic Journal ◽

10.2139/ssrn.2442053 ◽

2014 ◽

Author(s):

Simon Naitram ◽

Shane Lowe ◽

Justin Carter

Keyword(s):

Open Economy ◽

Small Open Economy ◽

Fiscal Multipliers

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The IMF, the UK Policy Debate, and Debt and Deficit Discourse

10.1093/oso/9780198813088.003.0006 ◽

2018 ◽

Author(s):

Ben Clift

Keyword(s):

Adverse Effects ◽

Coalition Government ◽

Policy Debate ◽

Fiscal Consolidation ◽

Policy Space ◽

Fiscal Multipliers ◽

Scientific Image ◽

The Uk ◽

Deep Recession ◽

The Imf

This chapter charts changing character of the economic ideas informing fiscal policymaking in Britain, and Fund responses to them. Drawing on interviews with the Fund’s UK Missions and UK authorities, it shows how, despite the IMF’s prizing of its non-political, scientific image, its differing views of UK policy space and prioritization became the stuff of a contested politics. The central assumption of the coalition government’s construction of fiscal rectitude was that Britain faced a ‘crisis of debt’, yet the IMF did not share this view. Fund work on fiscal multipliers being higher during recessions, and the adverse effects of fiscal consolidation on growth, all had pointed relevance for UK policy. The coalition government saw little potential for activist fiscal policy in support of growth. In 2013 Blanchard accused the UK authorities of ‘playing with fire’ by pursuing excessively harsh austerity which threatened a prolonged and deep recession.

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