Are the effects of fiscal changes different in times of crisis and non crisis? The French case
AbstractThis paper shows that the impact of changes in budgetary variables on real GDP, investment, consumption and employment varies in sign and magnitude in times of crisis and non-crisis. To this end, a regime-switching process is embedded in standard macroeconomic equations in order to take into account different budgetary regimes. We find evidence of asymmetric effects for both the multiplier of government expenditure and the fiscal multiplier, with differing effects during the phases of crisis and non-crisis depending upon the level of debt, of the unemployment rate, of the outputgap.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Dalloz in its journal Revue d'économie politique.
Volume (Year): 121 (2011)
Issue (Month): 3 ()
Contact details of provider:
Web page: http://www.cairn.info/revue-d-economie-politique.htm
Fiscal policy; Markov-switching; Crisis;
Other versions of this item:
- Bouthevillain, C. & Dufrénot, G., 2010. "Are the effects of fiscal changes different in times of crisis and non-crisis? The French Case," Working papers 286, Banque de France.
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Lechthaler, Wolfgang & Snower, Dennis J., 2013.
"Worker Identity, Employment Fluctuations and Stabilization Policy,"
CEPR Discussion Papers
9478, C.E.P.R. Discussion Papers.
- Snower, Dennis J. & Lechthaler, Wolfgang, 2013. "Worker Identity, Employment Fluctuations and Stabilization Policy," IZA Discussion Papers 7413, Institute for the Study of Labor (IZA).
- Wolfgang Lechthaler & Dennis Snower, 2013. "Worker Identity, Employment Fluctuations and Stabilization Policy," CESifo Working Paper Series 4271, CESifo Group Munich.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.