Fiscal Policy Effectiveness in the Banking Crisis

Ray Barrell, Tatiana Fic and Iana Liadze

National Institute Economic Review, 2009, vol. 207, issue 1, 43-50

Abstract: We investigate the effects of changes in taxes using the National Institute international macro model, NiGEM. A comparison on fiscal impulses worth 1 per cent of GDP for one year is made, with a comparison of a direct tax change, indirect tax change, and a lump sum payment. Multipliers are assessed one country at a time and when policy is coordinated to increase its impacts. We look at the importance of releasing borrowing constraints in a banking crisis. The analysis assumes financial and foreign exchange markets are forward looking.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:sae:niesru:v:207:y:2009:i:1:p:43-50

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