We just estimated twenty million fiscal multipliers
Jesus Crespo Cuaresma () and
Jan Capek ()
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Jesus Crespo Cuaresma: Department of Economics, Vienna University of Economics and Business
Jan Capek: Masaryk University
Department of Economics Working Papers from Vienna University of Economics and Business, Department of Economics
We analyse the role played by data and specification choices as determinants of the size of the fiscal multipliers obtained using structural vector autoregressive models. The results, based on over twenty million fiscal multiplier estimated for European countries, indicate that many seemingly harmless modelling choices have a significant effect on the size and precision of fiscal multiplier estimates. In addition to the structural shock identification strategy, these modelling choices include the definition of spending and taxes, the national accounts system employed, the use of particular interest rates or inflation measures, or whether data are smoothed prior to estimation.
Keywords: Fiscal multiplier; structural VAR; meta-analysis (search for similar items in EconPapers)
JEL-codes: E62 C32 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:wiw:wiwwuw:wuwp268
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