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Applied Economics Letters Volume 23, 2016 - Issue 17
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Original Articles

Differences in measures of the fiscal multiplier and the reduced-form vector autoregression

Michael DonadelliResearch Center SAFE and Goethe University Frankfurt, Frankfurt, Germany
,
Adriana GrassoLUISS Guido Carli, Rome, Italy;Einaudi Institute for Economics and Finance (EIEF), Rome, Italy
,
Jean-Paul L’HuillierEinaudi Institute for Economics and Finance (EIEF), Rome, ItalyCorrespondence[email protected]
&
Valentina MilanoLUISS Guido Carli, Rome, Italy;Einaudi Institute for Economics and Finance (EIEF), Rome, Italy
Pages 1215-1218 | Published online: 07 Mar 2016

References

  • Auerbach, A., W. G. Gale, and B. H. Harris. 2010. “Activist Fiscal Policy.” Journal of Economic Perspectives 24 (4): 141–164. doi:10.1257/jep.24.4.141.
  • Auerbach, A., and Y. Gorodnichenko. 2012. “Measuring the Output Responses to Fiscal Policy.” American Economic Journal-Economic Policy 4 (2): 1–27. doi:10.1257/pol.4.2.1.
  • Berg, T. O. 2014. “Time Varying Fiscal Multipliers in Germany.” MPRA Working Paper 57223.
  • Christiano, L., M. Eichenbaum, and S. Rebelo. 2011. “When Is the Government Spending Multiplier Large?” Journal of Political Economy 119 (1): 78–121. doi:10.1086/659312.
  • Ilzetzki, E., E. G. Mendoza, and C. A. Vegh. 2013. “How Big (Small) are Fiscal Multipliers?” Journal of Monetary Economics 60: 239–254. doi:10.1016/j.jmoneco.2012.10.011.
  • Kirchner, M., J. Cimadomo, and S. Hauptmeier. 2010. “Transmission of Government Shocks in the Euro Area: Time Variation and Driving Forces.” ECB Working Paper 1219.
  • Primiceri, G. 2005. “Time Varying Structural Vector Autoregressions and Monetary Policy.” Review of Economic Studies 72 (3): 821–852. doi:10.1111/roes.2005.72.issue-3.
  • Rafiq, S. 2014. “UK Fiscal Multipliers in the Postwar Era: Do State Dependent Shocks Matter?” CESifo Economic Studies 60 (1): 213–245. doi:10.1093/cesifo/ift011.
  • Rendahl, P. 2016. Fiscal Policy in an Unemployment Crisis Review of Economic Studies. Forthcoming.
  • Uhlig, H. 2005. “What are the Effects of Monetary Policy on Output? Results from an Agnostic Identification Procedure.” Journal of Monetary Economics 52: 381–419. doi:10.1016/j.jmoneco.2004.05.007.

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