Arbeitspapier
Effects of discretionary fiscal policy: New empirical evidence for Germany
This paper analyses the effects of discretionary fiscal policy by presenting new empirical evidence for Germany within a structural vector autoregression (SVAR) framework. Following Blanchard and Perotti (2002), the SVAR model is identified by applying institutional information. We find no compelling evidence for the effectiveness of discretionary fiscal policy. Cutting taxes does not tend to stabilise the business cycle. Increasing government expenditure has an ambiguous effect on GDP for the basic specification. However, by controlling for the influence of inflation, higher government expenditure does not either tend to stabilise economic activity. The results are robust to various modifications.
- Sprache
-
Englisch
- Erschienen in
-
Series: Diskussionsbeitrag ; No. 470
- Klassifikation
-
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Fiscal Policy
Fiscal Policies and Behavior of Economic Agents: General
- Thema
-
Discretionary fiscal policy
Germany
structural vector autoregression
Finanzpolitik
Diskretionäre Politik
Wirkungsanalyse
Konjunktur
Schätzung
Deutschland
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bank, Alexander
- Ereignis
-
Veröffentlichung
- (wer)
-
Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
- (wo)
-
Hannover
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Bank, Alexander
- Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät
Entstanden
- 2011
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