The Effects of Fiscal Policy on Output : A DSGE Analysis / Davide Furceri and Annabelle Mourougane = Les effets de la politique budgétaire sur la production : une analyse à partir d'un modèle DSGE / Davide Furceri et Annabelle Mourougane.

Format:

Book

Government document

Author/Creator:

Furceri, Davide, author.

Contributor:

Mourougane, Annabelle.

SourceOECD (Online service)

Series:

OECD Economics Department Working Papers 18151973 ; no.770.

OECD Economics Department Working Papers 18151973 ; no.770

Language:

English

Subjects (All):

Economics.

Physical Description:

1 online resource (35 pages).

Other Title:

Les effets de la politique budgétaire sur la production une analyse à partir d'un modèle DSGE

Place of Publication:

Paris : OECD Publishing, 2010.

System Details:

text file

Summary:

This paper examines the effects of fiscal policy on output in the euro area. For this purpose we develop a DSGE Fiscal Model with endogenous government bond yields to assess the impact of different fiscal policy shocks on output, its components and on government debt. The simulations suggest that fiscal policy is effective in supporting activity, especially in the short term. In particular, the largest fiscal multipliers are found for an increase in public investment, public consumption and a cut in the wage tax. The results are robust to different parameter calibrations and are economically significant. Amongst the different structural parameters, the share of liquidity constrained households and price persistence are found to be the ones which affect the most fiscal multipliers.

Notes:

Title from title screen (viewed May 1, 2017).

Access Restriction:

Restricted for use by site license.