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Fiscal Multipliers in the ECCU

Mr.Jesus Gonzalez-GarciaMr.Antonio LemusMr.Mico Mrkaic

出版	International Monetary Fund, 2013-05-22
主題	Business & Economics / Public FinanceBusiness & Economics / Economics / Macroeconomics
ISBN	14843599179781484359914
URL	http://books.google.com.hk/books?id=T7QZEAAAQBAJ&hl=&source=gbs_api
EBook	SAMPLE

註釋

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.