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THE CHANGE OF FISCAL MULTIPLIER WHEN SWITCHING FROM MANAGED EXCHANGE RATE REGIME TO THEFLOATING ONE

Ekaterina Pyltsyna ()
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Ekaterina Pyltsyna: National Research University Higher School of Economics

No WP BRP 206/EC/2018, HSE Working papers from National Research University Higher School of Economics

Abstract: This study investigated the change of government spending multiplier when switching from managed exchange rate regime to the floating exchange rate regime for emerging countries. It was found that on-impact multiplier in floating exchange rate regime is smaller by 0.5 than the one in the managed exchange rate regime. In addition, it was found that the openness of the economy affects values of government spending multipliers. Also, for the first time, micro-founded government spending multiplier was estimated for Russia. The study was conducted with the use of panel SVAR and DSGE models.

Keywords: fiscal multiplier; government expenditures; exchange rate regime change; panel SVAR; DSGE; emerging countries; Russia. (search for similar items in EconPapers)
JEL-codes: E62 E63 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cis, nep-dge, nep-mac and nep-tra
Date: 2018
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Published in WP BRP Series: Economics / EC, December 2018, pages 1-45

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Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:206/ec/2018

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