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Fiscal Policy Effectiveness in the Banking Crisis

Author

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  • Ray Barrell
  • Tatiana Fic
  • Iana Liadze

Abstract

We investigate the effects of changes in taxes using the National Institute international macro model, NiGEM. A comparison on fiscal impulses worth 1 per cent of GDP for one year is made, with a comparison of a direct tax change, indirect tax change, and a lump sum payment. Multipliers are assessed one country at a time and when policy is coordinated to increase its impacts. We look at the importance of releasing borrowing constraints in a banking crisis. The analysis assumes financial and foreign exchange markets are forward looking.

Suggested Citation

  • Ray Barrell & Tatiana Fic & Iana Liadze, 2009. "Fiscal Policy Effectiveness in the Banking Crisis," National Institute Economic Review, National Institute of Economic and Social Research, vol. 207(1), pages 43-50, January.
    • Handle: RePEc:sae:niesru:v:207:y:2009:i:1:p:43-50
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    Cited by:

    1. Nitika Bagaria & Dawn Holland & John Van Reenen, 2012. "Fiscal Consolidation During a Depression," National Institute Economic Review, National Institute of Economic and Social Research, vol. 221(1), pages 42-54, July.
    2. Oriol Carreras & Simon Kirby & Iana Liadze & Rebecca Piggott, 2016. "Fiscal Policy Spillovers," National Institute of Economic and Social Research (NIESR) Discussion Papers 468, National Institute of Economic and Social Research.
    3. Ray Barrell & Martin Weale, 2009. "The Economics of a Reduction in VAT," Fiscal Studies, Institute for Fiscal Studies, vol. 30(1), pages 17-30, March.
    4. Cristina Aurora Bunea-Bontas & Mihaela Cosmina Petre, 2010. "Fiscal Policy During The Current Crisis," Romanian Economic Business Review, Romanian-American University, vol. 5(4), pages 48-67, december.
    5. Oriol Carreras & Iana Liadze & Simon Kirby & Rebecca Piggott, 2016. "Quantifying Fiscal Multipliers," National Institute of Economic and Social Research (NIESR) Discussion Papers 469, National Institute of Economic and Social Research.
    6. Simona-Gabriela MAŞCA, 2011. "The State and the Economy – Theoretical Aspects and Empirical Evidence for the EU," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(5(558)), pages 17-44, May.
    7. Gonzalo Fernandez-de-Cordoba & Jose L Torres, 2011. "The Transitory VAT Cut in the UK: A Dynamic General Equilibrium Analysis," Economic Issues Journal Articles, Economic Issues, vol. 16(1), pages 1-18, March.

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