Consumption and Keynesian Fiscal Policy

Alfredo Schclarek and Alfredo Schclarek Curutchet
Authors registered in the RePEc Author Service: Alfredo Schclarek ()

No 1310, CESifo Working Paper Series from CESifo

Abstract: This paper empirically studies the effects of fiscal policy shocks on private consumption. Further, it tries to determine if the level of government bond yield and the unemployment rate affect that relationship. We use yearly data between 1970 and 2000 for thirty-eight countries, of which half are industrialized and half are developing countries. In general, the estimation results seem to indicate that government consumption shocks have Keynesian effects for both industrial and developing countries. In the case of tax shocks, the evidence suggest that they do not have any effects on private consumption. Furthermore, there is no evidence that favors the hypothesis of expansionary fiscal consolidations.

Keywords: fiscal policy; private consumption; government expenditure; taxation; developing countries (search for similar items in EconPapers)
Date: 2004
New Economics Papers: this item is included in nep-mac and nep-pke
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1310

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