Comparing tax and spending multipliers by controlling for monetary policy

Jalil, Andrew

doi:10.1504/ijebr.2016.078815

Cited by 3 publications

(16 citation statements)

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“…consolidations with(out) monetary policy accommodation. The success of fiscal consolidations can be intimately related with monetary policy accommodation (see, for instance, Jalil, 2016;Afonso and Martins, 2016).…”

Section: Literature Reviewmentioning

confidence: 99%

“…1998, 2017-2018, 2008Bahamas, The n.a. 1994, 1999-20161999-2016Bahrain n.a. 1996, 1999-2000, 2004-2005, 2017-20181996, 2004-2005, 2017-2018Barbados 1998, 20172017, 2017Belarus 2012, 2017, 2017-2018Belize n.a.…”

Section: Fiscal Episodesunclassified

“…1991-20091991-2009Bolivia n.a. 1995, 20041990, 1995, 2000, 2004Bosnia and Herzegovina 20022002, 2016-2018, 2018Botswana 200420042004Brazil 1999, 20171999n.a. Brunei Darussalam n.a.…”

Section: Fiscal Episodesmentioning

confidence: 99%

“…Brunei Darussalam n.a. 1991, 1996, 2000, 2004, 20181996, 2000, 2004, Bulgaria 2004, 2016, 20162004, 2016Burkina Faso n.a. 1989, 19921989, 1992Cabo Verde n.a.…”

Section: Fiscal Episodesmentioning

confidence: 99%

“…1996, 2004-20161996, 2004 , 1996-2016, 1996-2016Chad n.a. 1998, 2005, 2016-2018, 2005, 2016-2018Chile 200520042004China 200420042004Colombia 201219911991Comoros n.a. 1986-1989, 1997, 20051986-1989, 1997, 2005, Congo, Democratic Republic of the n.a.…”

Section: Fiscal Episodesmentioning

confidence: 99%

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(Non-)Keynesian Effects of Fiscal Austerity: New Evidence from a Large Sample

2021

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We empirically assess whether a usually expected negative response of private consumption and private investment to a fiscal consolidation is reversed. We focus on a large sample of 174 countries between 1970 and 2018. We also employ three alternative measures of the Cyclically Adjusted Primary Balance used to determine fiscal episodes: i) the IMF-WEO based; ii) the HP-based; and iii) the Hamilton (2018)-based. We find that: i) increases in government consumption have a Keynesian effect on real per capita private consumption; ii) there is a positive effect of tax increases on private consumption when there is a fiscal consolidation; iii) there is a crowding-in effect for private investment, from fiscal contractions. Moreover, expansionary fiscal consolidations occur particularly in highly indebted advanced economies following an increase in taxes. Finally, the negative effect of taxation on private consumption is larger when an economy is experiencing a financial crisis but it is not consolidating.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Fiscal Episodesunclassified

“…1991-20091991-2009Bolivia n.a. 1995, 20041990, 1995, 2000, 2004Bosnia and Herzegovina 20022002, 2016-2018, 2018Botswana 200420042004Brazil 1999, 20171999n.a. Brunei Darussalam n.a.…”

Section: Fiscal Episodesmentioning

confidence: 99%

“…Brunei Darussalam n.a. 1991, 1996, 2000, 2004, 20181996, 2000, 2004, Bulgaria 2004, 2016, 20162004, 2016Burkina Faso n.a. 1989, 19921989, 1992Cabo Verde n.a.…”

Section: Fiscal Episodesmentioning

confidence: 99%