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Multiplicador del gasto público en Argentina

Listed author(s):
  • Jorge Puig

    (Universidad Nacional de La Plata)

This paper provides the first empirical estimates of Argentina's Public Sector spending multiplier using a structural vector autoregression methodology (SVARs). At the same time, it exploits the economic classification of expenditures to make a very interesting contribution by differentiating the multiplier between consumption expenditure and capital expenditure (public investment). Results support the great importance of such differentiation as consumption spending has moderate effects on output while public investment has much more expansive macroeconomic effects, resulting from the synergies it generates with the private sector. These facts reveal the importance of thinking public and private sectors as complements rather than substitutes (or rivals) and the need to abandon the pro-cyclical fiscal policies are emphasized.

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File URL: http://economica.econo.unlp.edu.ar/documentos/20141223104932AM_Economica_594.pdf
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Article provided by Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata in its journal Económica.

Volume (Year): 60 (2014)
Issue (Month): (January-December)
Pages: 188-210

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Handle: RePEc:lap:journl:594
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Web page: http://www.depeco.econo.unlp.edu.ar/economica/ing/

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  8. Luis Felipe Céspedes & Jorge A. Fornero & Jordi Galí, 2013. "Non-Ricardian Aspects of Fiscal Policy in Chile," Central Banking, Analysis, and Economic Policies Book Series,in: Luis Felipe Céspedes & Jordi Galí (ed.), Fiscal Policy and Macroeconomic Performance, edition 1, volume 17, chapter 8, pages 283-322 Central Bank of Chile.
  9. Miguel Braun & Luciano di Gresia, 2003. "Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy," Research Department Publications 4333, Inter-American Development Bank, Research Department.
  10. Alan J. Auerbach & Yuriy Gorodnichenko, 2012. "Fiscal Multipliers in Recession and Expansion," NBER Chapters,in: Fiscal Policy after the Financial Crisis, pages 63-98 National Bureau of Economic Research, Inc.
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  13. Carlo A. Favero & Francesco Giavazzi, 2010. "Reconciling VAR-based and Narrative Measures of the Tax-Multiplier," Working Papers 361, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  14. Riera-Crichton, Daniel & Vegh, Carlos A. & Vuletin, Guillermo, 2016. "Tax multipliers: Pitfalls in measurement and identification," Journal of Monetary Economics, Elsevier, vol. 79(C), pages 30-48.
  15. Talvi, Ernesto & Vegh, Carlos A., 2005. "Tax base variability and procyclical fiscal policy in developing countries," Journal of Development Economics, Elsevier, vol. 78(1), pages 156-190, October.
  16. Barro, Robert J, 1981. "Output Effects of Government Purchases," Journal of Political Economy, University of Chicago Press, vol. 89(6), pages 1086-1121, December.
  17. Roberto Perotti, 2005. "Estimating the effects of fiscal policy in OECD countries," Proceedings, Federal Reserve Bank of San Francisco.
  18. Robert E. Hall, 2009. "By How Much Does GDP Rise If the Government Buys More Output?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 40(2 (Fall)), pages 183-249.
  19. Anos-Casero, Paloma & Cerdeiro, Diego & Trezzi, Riccardo, 2010. "Estimating the fiscal multiplier in Argentina," Policy Research Working Paper Series 5220, The World Bank.
  20. S. Mahendra Dev, 2008. "India," Chapters,in: Handbook on the South Asian Economies, chapter 1 Edward Elgar Publishing.
  21. Michael Gavin & Roberto Perotti, 1997. "Fiscal Policy in Latin America," NBER Chapters,in: NBER Macroeconomics Annual 1997, Volume 12, pages 11-72 National Bureau of Economic Research, Inc.
  22. 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.
  23. Ilzetzki, Ethan & Mendoza, Enrique G. & Végh, Carlos A., 2013. "How big (small?) are fiscal multipliers?," Journal of Monetary Economics, Elsevier, vol. 60(2), pages 239-254.
  24. Miguel Braun & Luciano Di Gresia, 2003. "Towards Effective Social Insurance in Latin America: The Importance of Countercyclical Fiscal Policy," IDB Publications (Working Papers) 1463, Inter-American Development Bank.
  25. Robert J. Barro & Charles J. Redlick, 2011. "Macroeconomic Effects From Government Purchases and Taxes," The Quarterly Journal of Economics, Oxford University Press, vol. 126(1), pages 51-102.
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