Medium-Term Fiscal Multipliers During Protracted Recessions
Author:   Salvatore Dell'erba ,  Marcos Poplawski-Ribeiro
Publisher:   International Monetary Fund
ISBN:  

9781336010017


Pages:   43
Publication Date:   01 January 2014
Format:   Electronic book text
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Medium-Term Fiscal Multipliers During Protracted Recessions


Overview

The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted recessions (PR) in a sample of 17 OECD countries. Based on Jorda's (2005) local projection methodology, we find that cumulative fiscal multipliers related to output, employment and unemployment at five-year horizons are significantly above one during PR episodes. These results suggest that medium-term fiscal consolidation plans to reduce public debt burdens should proceed gradually if economic activity remains below trend for a prolonged period.

Full Product Details

Author:   Salvatore Dell'erba ,  Marcos Poplawski-Ribeiro
Publisher:   International Monetary Fund
Imprint:   International Monetary Fund
ISBN:  

9781336010017


ISBN 10:   1336010010
Pages:   43
Publication Date:   01 January 2014
Audience:   General/trade ,  General
Format:   Electronic book text
Publisher's Status:   Active
Availability:   Available To Order   Availability explained
We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately.

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