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Fiscal Impulse and the Real Economy

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  • Darrat, Ali F

Abstract

This paper examines whether the German authorities can use fiscal (and monetary) policy to raise real output above the trend level. In specifying the anticipated policy and real output equations, Akaike's FPE criterion and Granger's causality tests are employed. These equations, moreover, stress the open-economy nature of Germany and avoid possible endogeneity problems. The results, generated using Zellner's system-estimation method, indicate that only the unanticipated component of fiscal policy can cause significant changes in real output, casting doubt on the usefulness of fiscal policy as a real stabilization tool.

Suggested Citation

  • Darrat, Ali F, 1986. "Fiscal Impulse and the Real Economy," Public Finance = Finances publiques, , vol. 41(3), pages 316-330.
    • Handle: RePEc:pfi:pubfin:v:41:y:1986:i:3:p:316-30
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    Cited by:

    1. Ali Darrat, 2002. "On Budget Deficits And Interest Rates: Another Look At The Evidence," International Economic Journal, Taylor & Francis Journals, vol. 16(2), pages 19-29.
    2. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, January.
    3. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.

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