Endre søk
RefereraExporteraLink to record
Permanent link

Direct link
Referera
Referensformat
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Annet format
Fler format
Språk
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Annet språk
Fler språk
Utmatningsformat
  • html
  • text
  • asciidoc
  • rtf
Fiscal Multipliers in the 21st Century
Stockholms universitet, Samhällsvetenskapliga fakulteten, Institutet för internationell ekonomi.
Stockholms universitet, Samhällsvetenskapliga fakulteten, Nationalekonomiska institutionen.
2016 (engelsk)Inngår i: Journal of Monetary Economics, ISSN 0304-3932, E-ISSN 1873-1295, Vol. 77, s. 53-69Artikkel i tidsskrift (Fagfellevurdert) Published
Abstract [en]

Fiscal multipliers appear to vary greatly over time and space. Based on VARs for a large number of countries, we document a strong correlation between wealth inequality and the magnitude of fiscal multipliers. In an attempt to account for this finding, we develop a life-cycle, overlapping-generations economy with uninsurable labor market risk. We calibrate our model to match key characteristics of a number of OECD economies, including the distribution of wages and wealth, social security, taxes, and government debt and study how a fiscal multiplier depends on various country characteristics. We find that the fiscal multiplier is highly sensitive to the fraction of the population who face binding credit constraints and also to the average wealth level in the economy. These findings together help us generate a cross-country pattern of multipliers that is quite similar to that in the data.

sted, utgiver, år, opplag, sider
2016. Vol. 77, s. 53-69
Emneord [en]
Fiscal multipliers, Wealth inequality, Government spending, Taxation
HSV kategori
Identifikatorer
URN: urn:nbn:se:su:diva-125206DOI: 10.1016/j.jmoneco.2015.09.005ISI: 000372388700005OAI: oai:DiVA.org:su-125206DiVA, id: diva2:892091
Konferanse
"Inequality, Institutions, and Redistribution", held at the Stern School of Business, New York University, April 24-25, 2015
Tilgjengelig fra: 2016-01-08 Laget: 2016-01-08 Sist oppdatert: 2017-12-01bibliografisk kontrollert

Open Access i DiVA

Fulltekst mangler i DiVA

Andre lenker

Forlagets fulltekst

Søk i DiVA

Av forfatter/redaktør
Krusell, PerMalafry, Laurence
Av organisasjonen
I samme tidsskrift
Journal of Monetary Economics

Søk utenfor DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric

doi
urn-nbn
Totalt: 90 treff
RefereraExporteraLink to record
Permanent link

Direct link
Referera
Referensformat
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Annet format
Fler format
Språk
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Annet språk
Fler språk
Utmatningsformat
  • html
  • text
  • asciidoc
  • rtf