The Discretionary Fiscal Effort: An Assessment of Fiscal Policy and its Output Effect

• Autores: Nicolas Carnot, Francisco de Castro Fernández
• Localización: Hacienda Pública Española / Review of Public Economics, ISSN 0210-1173, Nº 215, 2015, págs. 63-94
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Referencias bibliográficas
  • Alesina, A. and Perotti, R. (1995), »Fiscal expansions and fiscal adjustments in OECD countries, NBER Working Paper», No W5214.
  • Alesina, A., Campante, F. R. and Tabellini, G. (2008), »Why is fiscal policy often procyclical?», Journal of the European Economic Association,...
  • Arellano, M. and Bover, O. (1995), »Another look at the instrumental variable estimation of error-components models», Journal of Econometrics...
  • Ardagna, S. (2004), »Fiscal stabilisations: when do they work and why?», European Economic Review, Vol. 48, No 5, pp. 1047-1074.
  • Auerbach A. J. and Gorodnichenko, Y. (2011), »Fiscal Multipliers in Recession and Expansion», NBER Working Papers 17447.
  • Auerbach A. J. and Gorodnichenko, Y. (2012), »Measuring the output responses to fiscal policy», American Economic Journal: Economic Policy,...
  • Barrell R., Holland, D. and Hurst, I. (2012), »Fiscal consolidation: Part 2. Fiscal multipliers and fiscal consolidations», OECD Economics...
  • Baum, A. and Koester, G. B. (2011), »The impact of fiscal policy on economic activity over the business cycle-evidence from a threshold VAR...
  • Beetsma, R. and Giuliodori, M. (2008), »On the relationship between fiscal plans in the European Union: An empirical analysis based on real-time...
  • Beetsma, R., Giuliodori, M. and Klaassen, F. (2008), »The Effects of Public Spending Shocks on Trade Balances and Budget Deficits in the European...
  • Beetsma, R., Giuliodori, M. and Klaassen, F. (2009), »Temporal aggregation and SVAR identification with an application to fiscal policy»,...
  • Bénassy-Quéré, A. and Cimadomo, J. (2006), »Changing patterns of domestic and cross-border fiscal policy multipliers in Europe and the US»,...
  • Biau, O. and Girard, E. (2005), »Politique budgétaire et dynamique économique en France: l'approche VAR structurel», Économie et Prévision...
  • Blanchard, O. (1990), »Suggestions for a new set of fiscal indicators», OECD Economics Department, Working Paper, No. 79.
  • Blanchard O. and Leigh, D. (2013), »Growth forecast errors and fiscal multipliers», American Economic Review, 103(3): 117-20.
  • Blundell, R., and Bond, S. (1998), »Initial conditions and moment restrictions in dynamic panel data models», Journal of Econometrics 87:...
  • Born, B. and Müller, G. J. (2012), »Government spending in quarterly and annual time series», Journal of Money, Credit and Banking, 44 (2-3),...
  • Burriel, P., de Castro, F., Garrote, D., Gordo, E., Paredes, J. and Pérez, J. J. (2010), »Fiscal policy shocks in the euro area and the US:...
  • Christiano, L., Eichenbaum, M. and Rebelo, S. (2011), »When is the Government Spending Multiplier Large?», Journal of Political Economy 119(1),...
  • Cloyne, J. (2011), »What are the Effects of Tax Changes in the United Kingdom? New Evidence from a Narrative Evaluation», CESIFO Working Paper...
  • Coenen G., Erceg, C., Freedman, C., Furceri, D., Kumhof, M., Lalonde, R., Laxton, D., Lindé, J., Mourougane, A., Muir, D., Mursula, S., de...
  • D'Auria, F. Denis, C., Havik, K., Mc Morrow, K., Planas, C., Raciborski, R., Röger, W. and Rossi, A. (2010), »The production function...
  • De Castro, F. (2006), »The macroeconomic effects of fiscal policy in Spain», Applied Economics, 38, 913-924.
  • De Castro, F and Hernández de Cos, P. (2008), »The economic effects of fiscal policy: the case of Spain», Journal of Macroeconomics, 30, 1005-1028.
  • Devries P., Guajardo J., Leigh D. and Pescatori A. (2011), »A New Action-based Dataset of Fiscal Consolidation», IMF Working Paper No. 11/128
  • Eggertson G. and Krugman, P. (2012), »Debt, deleveraging and the liquidity trap», Quarterly Journal of Economics, pp. 1469-1513.
  • Eschenbach F. and Schuknecht, L. (2002), »Fiscal balances and asset prices», ECB Working Paper No. 141
  • European Commission (2006), Public Finances in EMU-2006, European Economy, N°3/2006.
  • European Commission (2010), Report on Public Finances in EMU-2010, European Economy, N°3/2009.
  • European Commission (2012), Report on Public Finances in EMU, European Economy, N°4/2012.
  • European Commission (2013), Report on Public Finances in EMU, European Economy, N°4/2013.
  • Favero, C. A. and Giavazzi, F. (2010), »Reconciling VAR-based and Narrative Measures of the Tax-Multiplier», CEPR Discussion Papers No 7769.
  • Galí, J. and Perotti, R. (2003), »Fiscal policy and monetary integration in Europe», Economic Policy, 18, pp. 533-572.
  • Giordano, R., Momigliano, S., Neri, S. and Perotti, R. (2007), »The effects of fiscal policy in Italy: Evidence from a VAR model», European...
  • Guajardo, J., Leigh, D. and Pescatori, A. (2011), »Expansionary Austerity: New International Evidence», IMF Working Paper No. 11/158
  • Hernández de Cos, P. and Moral Benito, E. (2015), »Fiscal multipliers in turbulent times: the case of Spain», Empirical Economics, forthcoming....
  • Hers J. and Suyker, W. (2014), »Structural budget balance: A love at first sight turned sour», CPB Policy Brief, N°2014-07.
  • In't Veld, J. (2013), »Fiscal consolidations and spillovers in the Euro area periphery and core», European Economy-Economic Papers 506,...
  • International Monetary Fund (2004), World Economic Outlook, September 2004.
  • International Monetary Fund, (2010), Chapter 3 World Economic Outlook, October 2010.
  • Kumar, M., Leigh, D. and Plekhanov, A. (2007), »Fiscal Adjustments: Determinants and Macroeconomic Consequences», IMF Working Paper No. 07/178.
  • Larch, M. and Turrini, A. (2009), »The cyclically adjusted budget balance in EU fiscal policy making: A love at first sight turned into a...
  • Lendvai J., Moulin, L. and Turrini, A. (2011), »From CAB to CAAB? Correcting Indicators of Structural Fiscal Positions for Current Account...
  • Morris, R., Rodrigues Braz, C., de Castro, F., Jonk, S., Kremer, J., Linehan, S., Marino, M. R., Schalck, C. and Tkacevs, O. (2009), »Explaining...
  • Mourre, G., Isbasoiu, G. M., Paternoster, D. and Salto, M. (2013), »The cyclically adjusted budget balance used in the EU fiscal framework:...
  • Mourre G., Astarita C. and Princen, S. (2014), »Adjusting the budget balance for the business cycle: the EU methodology», European Economy,...
  • OECD (2003), »Fiscal stance over the cycle: the role of debt, institutions and budget constraints». Economic Outlook 74.
  • Perotti, R. (2004), »Estimating the effects of fiscal policy in OECD countries», Proceedings, Federal Reserve Bank of San Francisco.
  • Princen S., Mourre, G., Paternoster, D. and Isbasoiu, G. M. (2013), »Discretionary tax measures: pattern and impact on tax elasticities»,...
  • Princen, S. and Mourre, G. (2014), »Short-term developments of revenue elasticities: insights from an EU country panel, European Economy,...
  • Ramey V. A. (2011), »Identifying Government Spending Shocks: It's all in the Timing», The Quarterly Journal of Economics, Vol. 126(1),...
  • Roeger W. and in't Veld, J. (2010), »Fiscal stimulus and exit strategies in the EU: a model-based analysis», European Economy, Economic...
  • Romer, C. and Bernstein, J. (2009), »The Job Impact of the American Recovery and Reinvestment Plan», http://otrans.3cdn.net/45593e8ecbd339d074_l3m6bt1te.pdf.
  • Romer, C. and Romer, D. H. (2010), »The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks», American...
  • Roodman, D. (2009), »How to do xtabond2: An introduction to difference and system GMM in Stata». Stata Journal 9(1): 86-136.
  • Turrini A. (2008), »Fiscal policy and the cycle in the Euro Area: The role of government revenue and expenditure», European Economy, Economic...