Fiscal Policy Multipliers in Small States

2019 ◽  
Author(s):  
Ali Alichi ◽  
Ippei Shibata ◽  
Kadir Tanyeri
Keyword(s):  
Fiscal Policy ◽  
Small States ◽  
Policy Multipliers

scholarly journals Fiscal Policy Multipliers in Small States

2019 ◽  
Vol 19 (72) ◽  
pp. 1 ◽  
Author(s):  
Ali Alichi ◽  
Ippei Shibata ◽  
Kadir Tanyeri
Keyword(s):  
Fiscal Policy ◽  
Small States ◽  
Policy Multipliers

scholarly journals Local and aggregate fiscal policy multipliers

2017 ◽  
Vol 92 ◽  
pp. 16-30 ◽  
Author(s):  
Bill Dupor ◽  
Rodrigo Guerrero
Keyword(s):  
Fiscal Policy ◽  
Policy Multipliers

Fiscal Policy Multipliers on Subnational Government Spending

2012 ◽  
Vol 4 (2) ◽  
pp. 46-68 ◽  
Author(s):  
Jeffrey Clemens ◽  
Stephen Miran
Keyword(s):  
Fiscal Policy ◽  
State Government ◽  
Government Spending ◽  
Stabilization Policy ◽  
Natural Experiments ◽  
Current Consumption ◽  
Sources Of Variation ◽  
Fiscal Stabilization ◽  
Alternative Sources ◽  
Policy Multipliers

Balanced budget requirements lead to substantial pro-cyclicality in state government spending, with the stringency of a state's rules driving the pace at which it must adjust to shocks. We show that fiscal institutions can generate natural experiments in deficit-financed spending that are informative regarding fiscal stabilization policy. Alternative sources of variation in subnational fiscal policy often implicitly involve “windfall” financing, which precludes any effect of future debt or taxation on current consumption and investment. Consistent with a role for these “Ricardian” effects, our estimates are smaller than those in related studies, implying an on-impact multiplier below 1. (JEL C51, E32, E62, H72)

scholarly journals Fiscal Rules for Natural Disaster- and Climate Change-Prone Small States

2021 ◽  
Vol 13 (6) ◽  
pp. 3135
Author(s):  
Ryota Nakatani
Keyword(s):  
Climate Change ◽  
Fiscal Policy ◽  
Natural Disasters ◽  
Natural Disaster ◽  
Fiscal Sustainability ◽  
Fiscal Rules ◽  
Policy Framework ◽  
Small States ◽  
Rule Based ◽  
Fiscal Rule

How should small states formulate a countercyclical fiscal policy to achieve economic stability and fiscal sustainability when they are prone to natural disasters, climate change, commodity price changes, and uncertain donor grants? We study how natural disasters and climate change affect long-term debt dynamics, and we propose cutting-edge fiscal policy rules. We find the primacy of a recurrent expenditure rule based on non-resource and non-grant revenue, interdependently determined by government debt and budget balance targets with expected disaster shocks. This innovative fiscal rule is classified as a natural disaster-resilient fiscal rule, which comprises a plethora of new advantages compared to existing fiscal rules. This new type of fiscal rule can be called as the third-generation fiscal rule. It encompasses natural disasters and climate change, uses budget data only, avoids the need for escape clauses, and operates on a timely basis. Our rule-based fiscal policy framework is practically applicable for many developing countries facing an increasing frequency and impact of devastating natural hazards, and climatic change.

Changing patterns of fiscal policy multipliers in Germany, the UK and the US

2012 ◽  
Vol 34 (3) ◽  
pp. 845-873 ◽  
Author(s):  
Jacopo Cimadomo ◽  
Agnès Bénassy-Quéré
Keyword(s):  
Fiscal Policy ◽  
The Us ◽  
Changing Patterns ◽  
The Uk ◽  
Policy Multipliers

scholarly journals Fiscal Policy Multipliers in a DSGE Model for Brazil

2015 ◽  
Vol 35 (2) ◽  
pp. 197
Author(s):  
Marco A. F. H. Cavalcanti ◽  
Luciano Vereda
Keyword(s):  
Fiscal Policy ◽  
Dsge Model ◽  
Policy Multipliers
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