Fiscal Multipliers in the Euro Area

Pablo Burriel (), Francisco de Castro Fernández (), Daniel Garrote (), Esther Gordo (), Joan Paredes and Javier Pérez
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Daniel Garrote: Bank of Spain, Research Department (Madrid, Spain)

Revista de Economía y Estadística, 2010, vol. 48, issue 2, 7–27

Abstract: In a standard linear structural VAR framework we analyse the size and sign of fiscal multipliers in the euro area, using a newly available quarterly dataset of fiscal variables for the period 1981-2007. From a policy perspective, the analysis of fiscal multipliers in "average times" provides insights on the impact of both fiscal stimulus and fiscal consolidation measures, provided "good" and "bad" times are on average similar. / Por medio de un modelo VAR estructural lineal estándar, se analiza lamagnitud y el signo de los multiplicadores fiscales para la zona euro,utilizando una base de datos trimestrales de variables fiscales para el período1981-2007 recientemente disponible. Desde una perspectiva política, elanálisis de los multiplicadores fiscales en "tiempos normales" proporcionainformación detallada sobre el impacto tanto de medidas de estímulo fiscal ymedidas de consolidación fiscal, a condición de que los períodos "buenos" y"malos" sean en promedio similares.

Keywords: Euro area; SVAR; fiscal shocks; fiscal multipliers (search for similar items in EconPapers)
JEL-codes: E62 H30 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ief:reveye:v:48:y:2010:i:2:p:7-27

DOI: 10.55444/2451.7321.2010.v48.n2.4105

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