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The size and determinants of fiscal multipliers in Western Balkans: comparing Croatia, Slovenia and Serbia

Milan Deskar Škrbić () and Hrvoje Šimović ()
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Milan Deskar Škrbić: Erste & Steiermarkische bank

Authors registered in the RePEc Author Service: Milan Deskar-Škrbić

No 1510, EFZG Working Papers Series from Faculty of Economics and Business, University of Zagreb

Abstract: When estimating the size of fiscal multipliers one has to take into consideration various structural characteristics of economies which, directly or indirectly, affect the transmission from government stimuli to economic activity. Thus, in this paper we use a ‘bucket approach’ to determination of the size of fiscal multipliers, which enables us to make presumptions on the size of fiscal multipliers, given the structural characteristics of selected Western Balkan economies – Croatia, Slovenia and Serbia. After this ‘non-empirical’ approach we use structural VAR framework to test our hypothesis derived from the ‘bucket approach’. Our results confirmed the hypotheses on the relative size of the multipliers between these three peer countries, with Croatia having the highest spending multiplier and Slovenia the lowest one.

Keywords: fiscal multipliers; Western Balkans; bucket approach; structural VAR (search for similar items in EconPapers)
JEL-codes: E62 C32 H20 H30 H50 (search for similar items in EconPapers)
Pages: 21
Date: 2015-10-29
New Economics Papers: this item is included in nep-mac, nep-pbe and nep-tra
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http://web.efzg.hr/repec/pdf/Clanak%2015-10.pdf First version, 2015 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:zag:wpaper:1510

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