What Do We Know About Fiscal Multipliers?

41 Pages Posted: 16 Dec 2015

See all articles by Carlo A. Favero

Carlo A. Favero

Bocconi University - Department of Economics; Bocconi University - Department of Finance; Centre for Economic Policy Research (CEPR)

Madina Karamysheva

National Research University Higher School of Economics (Moscow)

Date Written: December 2015

Abstract

The Empirical evidence on fiscal multipliers is very heterogenous. In this paper we first survey available estimates of fiscal multipliers to try to understand their heterogeneity. We provide a general framework that allows to make the identification and specification choices made by the different authors explict and leads hopefully to a better understanding of the heterogeneity of results.

Keywords: fiscal adjustment, fiscal plans, output growth

JEL Classification: E62, H60

Suggested Citation

Favero, Carlo A. and Karamysheva, Madina, What Do We Know About Fiscal Multipliers? (December 2015). CEPR Discussion Paper No. DP10986, Available at SSRN: https://ssrn.com/abstract=2704480

Carlo A. Favero (Contact Author)

Bocconi University - Department of Economics ( email )

Via Gobbi 5
Milan, 20136
Italy

Bocconi University - Department of Finance ( email )

Via Roentgen 1
Milano, MI 20136
Italy

HOME PAGE: http://www.igier.unibocconi.it\favero

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Madina Karamysheva

National Research University Higher School of Economics (Moscow) ( email )

Myasnitskaya street, 20
Moscow, Moscow 119017
Russia

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