Fiscal Policy and Economic Growth - the Crisis Aftermath
Ivan Todorov ()
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Ivan Todorov: Market regulation department of Communications Regulation Commission
Bulgarian Economic Papers (www.bep.bg) from St Kliment Ohridski University of Sofia, Faculty of Economics and Business Administration / Center for Economic Theories and Policies
The purpose of this study is to analyze the effectiveness of government spending and net taxes in Bulgaria for the period after the recent crisis. An empirical evaluation is based on two approaches. First, the ARDL analysis based on the Index of industrial production monthly data shows that the long term multiplier effects are valued 1.35 for spending, and close to 0.7 for net taxes. Second, using SVAR robust check based on GDP data the estimated values of the first-year multipliers are respectively 0.5 and 0.2 while the cumulative impact effect reaches up to 0.8 and 0.4.
Keywords: Fiscal Policy; Economic Growth; Fiscal multipliers; SVAR; ADRL (search for similar items in EconPapers)
JEL-codes: C32 E62 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac, nep-pbe and nep-tra
Date: 2015-10, Revised 2015-10
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https://www.uni-sofia.bg/index.php/eng/content/dow ... file/BEP-2015-07.pdf First version, 2015 (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:sko:wpaper:bep-2015-07
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