UID:
edocfu_9958080752402883
Format:
1 online resource (18 p.)
ISBN:
1-4843-2845-0
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1-4843-9805-X
,
1-4843-8497-0
Series Statement:
IMF working paper ; WP/13/ ;
Content:
The multipliers of taxes, and government consumption and investment expenditure for the Eastern Caribbean Currency Union (ECCU) are estimated using vector autoregression models with panel data. The impact and long-run multipliers are below unity, suggesting that a great extent of the intended impulse ends up expanding imported demand. The long-run multipliers of taxes and consumption expenditure are non-different from zero statistically, while public investment has a long-run multiplier of 0.6. The results suggest that countercyclical policies to stimulate growth should focus on public investment.
Note:
Description based upon print version of record.
,
Cover; Contents; I. Introduction; II. The Role of Fiscal Multipliers; III. Methodology and Data; A. The approach; B. Data issues; C. Interpolation of real GDP to obtain quarterly series; IV. Methodology for Estimation of Fiscal Multipliers; A. Description of the SVAR models used; B. Calculation of fiscal multipliers; C. The direct effects of fiscal Shocks on GDP; Figures; 1. Fiscal multipliers based on the direct effects of fiscal shocks; D. A complete description of the effects of fiscal shocks on GDP; 2. Fiscal multipliers taking into account interaction of variables; V. Conclusion
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References
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English
Additional Edition:
ISBN 1-4843-5991-7
Additional Edition:
ISBN 1-299-67800-9
Language:
English
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