Fiscal Policy and National Saving in Mexico, 1980-2006
This paper uses structural vector autoregression (SVAR) models to characterize the dynamic impact of fiscal policy on national saving. SVARs have extensively been used in case of monetary policy. Data adjusted for inflation, capital flight, the value loss of debt and cyclical effects, is used rather than traditional measures. Our results suggest that fiscal policy that increases the structural surplus has a positive impact on national saving, some negative impact on private savings in shorter horizons but any significant e_ect over longer horizons, and a negative effect on the output gap.
Volume (Year): 23 (2008)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.colmex.mx/centros/cee/|
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992.
"Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?,"
Journal of Econometrics,
Elsevier, vol. 54(1-3), pages 159-178.
- Denis Kwiatkowski & Peter C.B. Phillips & Peter Schmidt, 1991. "Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root: How Sure Are We That Economic Time Series Have a Unit Root?," Cowles Foundation Discussion Papers 979, Cowles Foundation for Research in Economics, Yale University.
- Kwiatkowski, D. & Phillips, P.C.B. & Schmidt, P., 1990. "Testing the Null Hypothesis of Stationarity Against the Alternative of Unit Root : How Sure are we that Economic Time Series have a Unit Root?," Papers 8905, Michigan State - Econometrics and Economic Theory.
- Khalid, Ahmed M., 1996. "Ricardian equivalence: Empirical evidence from developing economies," Journal of Development Economics, Elsevier, vol. 51(2), pages 413-432, December.
- Gyan Pradhan & Kamal Upadhyaya, 2001. "The impact of budget deficits on national saving in the USA," Applied Economics, Taylor & Francis Journals, vol. 33(13), pages 1745-1750.
- Perron, Pierre, 1988.
"Trends and random walks in macroeconomic time series : Further evidence from a new approach,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 12(2-3), pages 297-332.
- Perron, P., 1986. "Trends and Random Walks in Macroeconomic Time Series: Further Evidence From a New Approach," Cahiers de recherche 8650, Universite de Montreal, Departement de sciences economiques.
- Christopher A. Sims & Tao Zha, 1996.
"Bayesian methods for dynamic multivariate models,"
FRB Atlanta Working Paper
96-13, Federal Reserve Bank of Atlanta.
- Evans, Paul & Karras, Georgios, 1996. "Do Economies Converge? Evidence from a Panel of U.S. States," The Review of Economics and Statistics, MIT Press, vol. 78(3), pages 384-88, August.
- Corbo, Vittorio & Schmidt-Hebbel, Klaus, 1991.
"Public policies and saving in developing countries,"
Journal of Development Economics,
Elsevier, vol. 36(1), pages 89-115, July.
- Corbo, Vittorio & Schmidt-Hebbel, Klaus, 1991. "Public policies and saving in developing countries," Policy Research Working Paper Series 574, The World Bank.
- repec:tpr:qjecon:v:117:y:2002:i:4:p:1329-1368 is not listed on IDEAS
- Eggerstedt, Harald & Hall, Rebecca Brideau & Van Wijnbergen, Sweder, 1995.
"Measuring capital flight: A case study of Mexico,"
Elsevier, vol. 23(2), pages 211-232, February.
- Gramlich, Edward M, 1989. "Budget Deficits and National Saving: Are Politicians Exogenous?," Journal of Economic Perspectives, American Economic Association, vol. 3(2), pages 23-35, Spring.
- Loayza, Norman & Schmidt-Hebbel, Klaus & Serven, Luis, 2000. "What drives private saving around the world?," Policy Research Working Paper Series 2309, The World Bank.
- Marc Hayford, 2005. "Fiscal policy and national saving," Applied Economics, Taylor & Francis Journals, vol. 37(9), pages 981-992.
- Barro, Robert J., 1974.
"Are Government Bonds Net Wealth?,"
3451399, Harvard University Department of Economics.
- Karras, Georgios, 1994. "Government Spending and Private Consumption: Some International Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 26(1), pages 9-22, February.
- Ben S. Bernanke & Ilian Mihov, 1995.
"Measuring monetary policy,"
Working Papers in Applied Economic Theory
95-09, Federal Reserve Bank of San Francisco.
- Serena Ng & Pierre Perron, 2001.
"LAG Length Selection and the Construction of Unit Root Tests with Good Size and Power,"
Econometric Society, vol. 69(6), pages 1519-1554, November.
- Serena Ng & Pierre Perron, 1997. "Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power," Boston College Working Papers in Economics 369, Boston College Department of Economics, revised 01 Sep 2000.
- van Wijnbergen, Sweder, 1991. "Debt Relief and Economic Growth in Mexico," World Bank Economic Review, World Bank Group, vol. 5(3), pages 437-55, September.
- repec:fth:harver:1530 is not listed on IDEAS
- J. Humberto Lopez & K. Schmidt-Hebbel & Luis Servén, 2000. "How Effective is Fiscal Policy in Raising National Saving?," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 226-238, May.
- Oks, Daniel F., 1992. "Stabilization and growth recovery in Mexico : lessons and dilemmas," Policy Research Working Paper Series 833, The World Bank.
- Olivier Blanchard & Roberto Perotti, 1999.
"An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output,"
NBER Working Papers
7269, National Bureau of Economic Research, Inc.
- Nicolau, Jo o, 2002. "Stationary Processes That Look Like Random Walks The Bounded Random Walk Process In Discrete And Continuous Time," Econometric Theory, Cambridge University Press, vol. 18(01), pages 99-118, February.
- Gil-Diaz, Francisco & Carstens, Agustin, 1996. "One Year of Solitude: Some Pilgrim Tales about Mexico's 1994-1995 Crisis," American Economic Review, American Economic Association, vol. 86(2), pages 164-69, May.
- Haque, Nadeem U & Montiel, Peter, 1989. "Consumption in Developing Countries: Tests for Liquidity Constraintsand Finite Horizons," The Review of Economics and Statistics, MIT Press, vol. 71(3), pages 408-15, August.
When requesting a correction, please mention this item's handle: RePEc:emx:esteco:v:23:y:2008:i:2:p:281-312. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rocío Contreras)
If references are entirely missing, you can add them using this form.