The Role of Budget Policy under the Financial and Economic Crisis

Sergey Vlasov and Alexey Ponomarenko

Journal of the New Economic Association, 2010, issue 7, 111-133

Abstract: This study examines the growing role of fiscal policy at the time of financial crisis. It presents the analysis of fiscal stimulus measures of the Russian Government during the period of 2008-2010 and the comparison with similar measures implemented in other countries. Risks and restrictions arising during the development and implementation of measures are analyzed. Quantitative estimation of macroeconomic effect using SVAR-model is presented. Fiscal multipliers are evaluated and factors influencing the value of multipliers are examined.

Keywords: fiscal stimulus measures; fiscal sustainability; SVAR; fiscal multiplier (search for similar items in EconPapers)
JEL-codes: E62 H30 H60 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2010:i:7:p:111-133

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