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Efectos Dinámicos de la Política Fiscal

Author

Listed:
  • Rodrigo Cerda

    (Instituto de Economía)

  • Luis Felipe Lagos

    (Instituto de Economía)

  • Hermann González

Abstract

This paper identifies the dynamic effects of fiscal policy on economic activity (GDP) in the Chilean economy. We use a structural vector autoregression (SVAR) methodology. The main results are: a positive fiscal expenditure shock has a negative effect on

Suggested Citation

  • Rodrigo Cerda & Luis Felipe Lagos & Hermann González, 2005. "Efectos Dinámicos de la Política Fiscal," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 42(125), pages 63-77.
    • Handle: RePEc:ioe:cuadec:v:42:y:2005:i:125:p:63-77
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    References listed on IDEAS

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    2. Bertola, Giuseppe & Drazen, Allan, 1993. "Trigger Points and Budget Cuts: Explaining the Effects of Fiscal Austerity," American Economic Review, American Economic Association, vol. 83(1), pages 11-26, March.
    3. Francesco Giavazzi & Marco Pagano, 1990. "Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries," NBER Chapters, in: NBER Macroeconomics Annual 1990, Volume 5, pages 75-122, National Bureau of Economic Research, Inc.
    4. Perotti, Roberto, 2002. "Estimating the effects of fiscal policy in OECD countries," Working Paper Series 168, European Central Bank.
    5. Francesco Giavazzi & Marco Pagano, 1995. "Non-Keynesian Effects of Fiscal Policy Changes: International Evidence and the Swedish Experience," NBER Working Papers 5332, National Bureau of Economic Research, Inc.
    6. Alberto Alesina & Roberto Perotti, 1997. "Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 210-248, June.
    7. van Aarle, Bas & Garretsen, Harry & Gobbin, Niko, 2003. "Monetary and fiscal policy transmission in the Euro-area: evidence from a structural VAR analysis," Journal of Economics and Business, Elsevier, vol. 55(5-6), pages 609-638.
    8. 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, President and Fellows of Harvard College, vol. 117(4), pages 1329-1368.
    9. Runkle, David E, 1987. "Vector Autoregressions and Reality: Reply," Journal of Business & Economic Statistics, American Statistical Association, vol. 5(4), pages 454-454, October.
    10. David E. Runkle, 1987. "Vector autoregressions and reality," Staff Report 107, Federal Reserve Bank of Minneapolis.
    11. Roberto Perotti, 2002. "Estimating the effects of fiscal policy in OECD countries," Economics Working Papers 015, European Network of Economic Policy Research Institutes.
    12. Giavazzi, Francesco & Jappelli, Tullio & Pagano, Marco, 2000. "Searching for non-linear effects of fiscal policy: Evidence from industrial and developing countries," European Economic Review, Elsevier, vol. 44(7), pages 1259-1289, June.
    13. Fatás, Antonio & Mihov, Ilian, 2001. "The Effects of Fiscal Policy on Consumption and Employment: Theory and Evidence," CEPR Discussion Papers 2760, C.E.P.R. Discussion Papers.
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    Citations

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    Cited by:

    1. Jorge E. Restrepo & Hernán Rincón, 2006. "Identifying Fiscal Policy Shocks In Chile And Colombia," Borradores de Economia 397, Banco de la Republica de Colombia.
    2. Cernadas, Luis, 2010. "Efectos macroeconómicos de la política fiscal: Evidencia empírica para Bolivia [Macroeconomic effects of fiscal policy: Empirical evidence from Bolivia]," MPRA Paper 39696, University Library of Munich, Germany, revised 2011.
    3. Antonio Lemus, 2018. "Dynamic Effects of the Chilean Fiscal Policy," Working Papers hal-04141693, HAL.
    4. Carrillo, Paul A., 2010. "“Modelo Dinámico para Análisis y Pronóstico del Producto Interno Bruto”: Un Enfoque Fiscal Aplicando un Modelo SVAR [Dynamic Model for Analysis and Forecast of Gross Domestic Product': A Fiscal App," MPRA Paper 32005, University Library of Munich, Germany.
    5. Carlos Garcia & Jorge Restrepo, 2007. "How Effective is Government Spending in a Small Open Economy with Distortionary Taxes," ILADES-UAH Working Papers inv188, Universidad Alberto Hurtado/School of Economics and Business.
    6. Carrillo, Paul A., 2010. "Efectos Macroeconómicos de la Política Fiscal en Ecuador 1993-2009 [Macroeconomic Effects of Fiscal Policy in Ecuador 1993-2009]," MPRA Paper 34436, University Library of Munich, Germany, revised Oct 2011.

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    More about this item

    Keywords

    Fiscal expenditure shock; svar;

    JEL classification:

    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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