We just estimated twenty million fiscal multipliers

Publikation: Working/Discussion PaperWU Working Paper

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Abstract

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.
OriginalspracheEnglisch
ErscheinungsortVienna
HerausgeberWU Vienna University of Economics and Business
PublikationsstatusVeröffentlicht - 1 Aug. 2018

Publikationsreihe

NameDepartment of Economics Working Paper Series
Nr.268

WU Working Paper Reihe

  • Department of Economics Working Paper Series

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