Uneingeschränkter Zugang

What is the Nature of the Dynamics between Government Spending and Aggregate Output in the Nordic Countries?


Zitieren

Ahonen, E. (2020). Does the Size of the Government Consumption Multiplier for Finland Vary Over Time? Economic Policy Council Report 2019, Background paper. Retrieved from https://www.talouspolitiikanarviointineuvosto.fi/wordpress/wp-content/uploads/2020/01/Ahonen2020.pdf Search in Google Scholar

Ahuja, D., & Pandit, D. (2021). A Review and Research Agenda of Fiscal Policy post 2008 Financial Crisis. International Journal of Indian Culture and Business Management, 24(2), 225–246. https://doi.org/10.1504/IJICBM.2021.11889610.1504/IJICBM.2021.118896 Search in Google Scholar

Alexiou, C., & Nellis, J. G. (2017). Cyclical Multiplier and Zero Low Bound Effects of Government Expenditure on Economic Growth: Evidence for Greece. Australian Economic Papers, 56(2), 119–133. https://doi.org/10.1111/1467-8454.1208410.1111/1467-8454.12084 Search in Google Scholar

Andre, P., Haaland, I., Roth, C., & Wohlfart, J. (2021). Inflation Narratives. VoxEU.org. Retrieved from https://voxeu.org/article/inflation-narratives.10.2139/ssrn.3974993 Search in Google Scholar

Arize, A. C., & Bahmani-oskooee, M. (2021). Nonlinear ARDL Approach and PPP: Evidence from 82 Countries, Global Economy Journal, 21(1). https://doi.org/10.1142/S219456592150002010.1142/S2194565921500020 Search in Google Scholar

Asandului, M., Lupu, D., Maha, L., Viorică, D. (2020). The Asymmetric Effects of Fiscal Policy on Inflation and Economic Activity in Post-communist European Countries. Post-communist Economies, 33(7), 900–920. https://doi.org/10.1080/14631377.2020.186743010.1080/14631377.2020.1867430 Search in Google Scholar

Auerbach, A. J., & Gorodnichenko, Y. (2010). Measuring the output responses to fiscal policy. NBER Working Paper No. 16311, National Bureau of Economic Research, Cambridge. https://doi.org/10.3386/w1631110.3386/w16311 Search in Google Scholar

Auerbach, A. J., & Gorodnichenko, Y. (2011). Fiscal multipliers in recession and expansion. NBER Working Paper No. 17447, National Bureau of Economic Research, Cambridge. https://doi.org/10.3386/w1744710.3386/w17447 Search in Google Scholar

Auerbach, A. J., & Gorodnichenko, Y. (2014). Fiscal multipliers in Japan. NBER Working Paper No. 19911, National Bureau of Economic Research, Cambridge. https://doi.org/10.3386/w1991110.3386/w19911 Search in Google Scholar

Auerbach, A. J., & Gorodnichenko, Y. (2017). Fiscal Stimulus and Fiscal Sustainability. NBER Working Paper No. 23789, National Bureau of Economic Research, Cambridge. https://doi.org/10.3386/w2378910.3386/w23789 Search in Google Scholar

Aursland, T. A., Frankovica, I., Kanika, B., & Saxegaard, M. (2020). State-dependent Fiscal Multipliers in NORA - A DSGE Model for Fiscal Policy Analysis in Norway. Economic Modelling, 93, 321–353.10.1016/j.econmod.2020.07.017 Search in Google Scholar

Batini, N., Callegari, G., & Melina, G. (2012). Successful austerity in the United States, Europe and Japan. IMF Working Paper No. 12/190, International Monetary Fund, Washington. https://doi.org/10.2139/ssrn.216973610.2139/ssrn.2169736 Search in Google Scholar

Bernanke, B. S. (2019). Monetary Policy in a New Era. In O. Blanchard, & L. H. Summers (Eds.), Evolution or Revolution? Rethinking Macroeconomic Policy after the Great Recession (pp.131–139). MIT Press.10.7551/mitpress/11734.003.0004 Search in Google Scholar

Blanchard, O., & Perotti, R. (1999). An empirical characterization of the dynamic effects of changes in government spending and taxes on output. NBER Working Paper No. 7269, National Bureau of Economic Research, Cambridge. https://doi.org/10.3386/w726910.3386/w7269 Search in Google Scholar

Borsi, T. M. (2018). Fiscal multipliers across the credit cycle. Journal of Macroeconomics, 56, 135–151. https://doi.org/10.1016/j.jmacro.2018.01.00410.1016/j.jmacro.2018.01.004 Search in Google Scholar

Burriel, P., de Castro, F., Garrote, D., Gordo, E., Paredes, J., & Pérez, J. J. (2009). Fiscal policy shocks in the Euro Area and the US. An empirical assessment. ECB Working paper No. 1133, European Central Bank, Frankfurt. https://doi.org/10.2139/ssrn.152927710.2139/ssrn.1529277 Search in Google Scholar

Gaspar, V., Lizarazo, S., Medas, P., & Piazza, R. (2021). Fiscal Policy for an Uncertain World. IMF Blog: Insights & Analysis on Economics & Finance. Retrieved from https://blogs.imf.org/2021/10/13/fiscal-policy-for-an-uncertai. Search in Google Scholar

Giordano, R., Momigliano, S., Neri, S., & Perotti, R. (2007). The effects of fiscal policy in Italy: Evidence from a VAR model. European Journal of Political Economy, 23(3), 707–733. https://doi.org/10.1016/j.ejpoleco.2006.10.00510.1016/j.ejpoleco.2006.10.005 Search in Google Scholar

Hatemi-J, A. (2014). On the Interaction between Government Spending and Economic Performance in Sweden: an Asymmetric Approach. Applied Economics Letters, 21(15), 1099–1103. https://doi.org/10.1080/13504851.2014.91202710.1080/13504851.2014.912027 Search in Google Scholar

Hjelm, G., & Stockhammer, P. (2016). Short Run Effects of Fiscal Policy on GDP and Employment: Swedish Evidence. National Institute of Economic Research, Working Paper No. 147. Stockholm. Search in Google Scholar

Hory, M.-P. (2016). Fiscal multipliers in emerging market economies: Can we learn something from advanced economies? International Economics, 146, 59–84. https://doi.org/10.1016/j.inteco.2015.11.00210.1016/j.inteco.2015.11.002 Search in Google Scholar

House, C. L., Proebsting, C., & Tesar, L. L. (2020). Austerity in the Aftermath of the Great Recession. Journal of Monetary Economics, 115, 37–63. https://doi.org/10.1016/j.jmoneco.2019.05.00410.1016/j.jmoneco.2019.05.004 Search in Google Scholar

Husein, J., & Kara, S. M. (2020). Nonlinear ARDL Estimation of Tourism Demand for Puerto Rico from the USA. Tourism Management, 77. https://doi.org/10.1016/j.tourman.2019.10399810.1016/j.tourman.2019.103998 Search in Google Scholar

Ilzetzki, E., Mendoza, E. G., & Végh, C. A. (2013). How big (small?) are fiscal multipliers? Journal of Monetary Economics, 60(2), 239–254. https://doi.org/10.1016/j.jmoneco.2012.10.01110.1016/j.jmoneco.2012.10.011 Search in Google Scholar

IMF (2021). International Financial Statistics. International Monetary Fund. Retrieved from https://www.imf.org/en/Data. Search in Google Scholar

Koh, W. C. (2017). Fiscal Multipliers: New Evidence from a Large Panel of Countries. Oxford Economic Papers, 69(3), 569–590. Search in Google Scholar

Lehmus, M. (2014). Finnish Fiscal Multipliers with a Structural VAR Model. Labour Institute for Economic Research. Helsinki. Search in Google Scholar

Martorano, B. (2015). Is It Possible to Adjust ‘With a Human Face’? Differences in Fiscal Consolidation Strategies between Hungary and Iceland. Comparative Economic Studies, 57, 623–654. https://doi.org/10.1057/ces.2015.2210.1057/ces.2015.22 Search in Google Scholar

Perotti, R. (2002). Estimating the effects of fiscal policy in OECD countries. ECB Working Paper No. 168, European Central Bank, Frankfurt. https://doi.org/10.2139/ssrn.35808210.2139/ssrn.358082 Search in Google Scholar

Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16, 289–326. https://doi.org/10.1002/jae.61610.1002/jae.616 Search in Google Scholar

Qazizada, W., & Stockhammer, E. (2015). Government Spending Multipliers in Contraction and Expansion. International Review of Applied Economics, 29(2), 238–258. https://doi.org/10.1080/02692171.2014.98305310.1080/02692171.2014.983053 Search in Google Scholar

Ramey, V. A., & Zubairy, S. (2014). Government spending multipliers in good times and in bad: Evidence from U.S. historical data. NBER Working Paper No. 20719, National Bureau of Economic Research, Cambridge. https://doi.org/10.3386/w2071910.3386/w20719 Search in Google Scholar

Ravn, S. H., & Spange, M. (2014). The Effects of Fiscal Policy in a Small Open Economy with a Fixed Exchange Rate. Open Economies Review, 25, 451–476. https://doi.org/10.1007/s11079-013-9288-210.1007/s11079-013-9288-2 Search in Google Scholar

Reichlin, P. (2020). The GIIPS Countries in the Great Recession: Was it a Failure of the Monetary Union? Luiss SEP Working Paper No. 1/2020, School of European Political Economy, Rome. Search in Google Scholar

Schnabel, I. (2021). Unconventional Fiscal and Monetary Policy at the Zero Lower Bound. Keynote Speech at the Third Annual Conference Organized by the European Fiscal Board on “High Debt, Low Rates and Tail Events: Rules-Based Fiscal Frameworks under Stress”. Retrieved from https://www.ecb.europa.eu/press/key/date/2021/html/ecb.sp210226~f-f6ad267d4.en.html. Search in Google Scholar

Senekovič, M. (2021). Is there Asymmetry in the Relationship between Government Consumption Dynamics and Economic Activity? Evidence from G7 Economies. Naše gospodarstvo/Our Economy, 67(4). https://doi.org/10.2478/ngoe-2021-001810.2478/ngoe-2021-0018 Search in Google Scholar

Shambaugh, J. C. (2019). Rethinking Fiscal Policy. In O. Blanchard, & L. H. Summers (Eds.), Evolution or Revolution? Rethinking Macroeconomic Policy after the Great Recession (pp.131–139). MIT Press.10.7551/mitpress/11734.003.0014 Search in Google Scholar

Sharma, V., & Mittal, A. (2019). Fiscal Deficit, Capital Formation, and Economic Growth in India: a Nonlinear ARDL Model. Decision: Official Journal of the Indian Institute of Management Calcutta, 46(4), 353–363. https://doi.org/10.1007/s40622-019-00223-810.1007/s40622-019-00223-8 Search in Google Scholar

Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2014). Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework. In R. Sickles, & W. Horrace (Eds.), Festschrift in Honor of Peter Schmidt. Springer. https://doi.org/10.1007/978-1-4899-8008-3_910.1007/978-1-4899-8008-3_9 Search in Google Scholar

Summers, L. H. (2016). The Age of Secular Stagnation. What It Is and What to Do About It? Foreign Affairs, 95(2), 2–9. Search in Google Scholar

World Bank (2021). World Bank National Accounts Data. World Bank. Retrieved from https://data.worldbank.org/indicator/NE.CON.GOVT.ZS. Search in Google Scholar