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We just estimated twenty million fiscal multipliers

Capek, Jan and Crespo Cuaresma, Jesus (2018) We just estimated twenty million fiscal multipliers. Department of Economics Working Paper Series, 268. WU Vienna University of Economics and Business, Vienna.

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We analyse the role played by data and specification choices as determinants of the size of the fiscal multipliers obtained using structural vector autoregressive models. The results, based on over twenty million fiscal multiplier estimated for European countries, indicate that many seemingly harmless modelling choices have a significant effect on the size and precision of fiscal multiplier estimates. In addition to the structural shock identification strategy, these modelling choices include the definition of spending and taxes, the national accounts system employed, the use of particular interest rates or inflation measures, or whether data are smoothed prior to estimation.

Item Type: Paper
Keywords: Fiscal multiplier, structural VAR, meta-analysis
Classification Codes: JEL E62, C32
Divisions: Departments > Volkswirtschaft
Depositing User: Claudia Tering-Raunig
Date Deposited: 06 Aug 2018 13:34
Last Modified: 06 Aug 2018 13:34
URI: http://epub.wu.ac.at/id/eprint/6451


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