Menzie David Chinn
University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics; National Bureau of Economic Research (NBER)
January 29, 2013
La Follette School of Public Affairs Working Paper No. 2015-002
The concept of fiscal multipliers is examined, in the context of the major theoretical approaches. Differing methods of calculating multipliers are then recounted (structural equations, VAR, simulation). The sensitivity of estimates to conditioning on the state of the economy (slack, financial system) and policy regimes (exchange rate system, monetary policy reaction function) is discussed.
Number of Pages in PDF File: 17
Keywords: fiscal, spending, taxes, deficits, debt, crowding out, Ricardian equivalence, crowding out, portfolio balance, monetary reaction function
JEL Classification: E62, E43, F33, F41
Date posted: January 31, 2013
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