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Short-term growth effects of fiscal policy revisited: A Markov-switching approach


  • Arin, K. Peren
  • Spagnolo, Nicola


This paper investigates the growth effects of three different types of tax policy innovations on short-term economic growth within a Markov-switching framework applied to the U.S. economy.

Suggested Citation

  • Arin, K. Peren & Spagnolo, Nicola, 2011. "Short-term growth effects of fiscal policy revisited: A Markov-switching approach," Economics Letters, Elsevier, vol. 110(3), pages 278-281, March.
  • Handle: RePEc:eee:ecolet:v:110:y:2011:i:3:p:278-281

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    References listed on IDEAS

    1. Roberto Perotti, 2005. "Estimating the effects of fiscal policy in OECD countries," Proceedings, Federal Reserve Bank of San Francisco.
    2. Adam, Christopher S. & Bevan, David L., 2005. "Fiscal deficits and growth in developing countries," Journal of Public Economics, Elsevier, vol. 89(4), pages 571-597, April.
    3. Olivier Blanchard & Roberto Perotti, 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1329-1368.
    4. Lee, Young & Gordon, Roger H., 2005. "Tax structure and economic growth," Journal of Public Economics, Elsevier, vol. 89(5-6), pages 1027-1043, June.
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    Cited by:

    1. Topal, Pinar, 2015. "Fiscal stimulus and labor market flexibility," SAFE Working Paper Series 90, Research Center SAFE - Sustainable Architecture for Finance in Europe, Goethe University Frankfurt.
    2. Jha, Shikha & Mallick, Sushanta K. & Park, Donghyun & Quising, Pilipinas F., 2014. "Effectiveness of countercyclical fiscal policy: Evidence from developing Asia," Journal of Macroeconomics, Elsevier, vol. 40(C), pages 82-98.

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    Fiscal policy Markov-switching;


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