We just estimated twenty million fiscal multipliers

Jan Čapek and Jesus Crespo Cuaresma

No 268, Department of Economics Working Paper Series from WU Vienna University of Economics and Business

Abstract: 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.

Keywords: Fiscal multiplier; structural VAR; meta-analysis (search for similar items in EconPapers)
Date: 2018-08
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Related works:
Journal Article: We just estimated twenty million fiscal multipliers (2020)
Working Paper: We just estimated twenty million fiscal multipliers (2018)
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