Abstract

http://ssrn.com/abstract=879624
 
 

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Fiscal Policy and Economic Activity During Recessions in Advanced Economies


Richard Hemming


International Monetary Fund (IMF)

Selma Mahfouz


affiliation not provided to SSRN

Axel Schimmelpfennig


International Monetary Fund (IMF)

May 2002

IMF Working Paper No. 02/87

Abstract:     
Using data for advanced economies, this paper investigates whether factors identified in the theoretical and empirical literature explain the effectiveness of fiscal policy in responding to recessions. The results are informative about the fiscal response to recessions but provide only a partial explanation of the impact of fiscal policy on economic activity. Overall, it would appear that fiscal multipliers are very small.

Number of Pages in PDF File: 24

Keywords: Recessions, fiscal response, economic activity, fiscal multipliers

JEL Classification: C21, E62, E65, H30

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Date posted: January 31, 2006  

Suggested Citation

Hemming, Richard and Mahfouz, Selma and Schimmelpfennig, Axel, Fiscal Policy and Economic Activity During Recessions in Advanced Economies (May 2002). IMF Working Paper No. 02/87. Available at SSRN: http://ssrn.com/abstract=879624

Contact Information

Richard Hemming (Contact Author)
International Monetary Fund (IMF) ( email )
700 19th Street NW
Washington, DC 20431
United States
Selma Mahfouz
affiliation not provided to SSRN
No Address Available
Axel Schimmelpfennig
International Monetary Fund (IMF) ( email )
700 19th Street NW
Washington, DC 20431
United States
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