Medium-Term Fiscal Multipliers During Protracted Recessions PDF ePub eBook

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Medium-Term Fiscal Multipliers During Protracted Recessions free pdf The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted recessions (PR) in a sample of 17 OECD countries. Based on Jorda's (2005) local projection methodology, we find that cumulative fiscal multipliers related to output, employment and unemployment at five-year horizons are significantly above one during PR episodes. These results suggest that medium-term fiscal consolidation plans to reduce public debt burdens should proceed gradually if economic activity remains below trend for a prolonged period.

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Details Book

Author : Salvatore Dell'erba
Publisher : International Monetary Fund
Data Published : 05 December 2014
ISBN : 1475559194
EAN : 9781475559194
Format Book : PDF, Epub, DOCx, TXT
Number of Pages : 42 pages
Age + : 15 years
Language : English
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  • Medium-Term Fiscal Multipliers During Protracted Recessions free pdfMedium-Term Fiscal Multipliers During Protracted Recessions

    Free Book Site. The paper examines the consequences of fiscal consolidation in times of persistently low growth and high unemployment by estimating medium-term fiscal multipliers during protracted rec