Replication data for: Effects of Fiscal Stimulus in Structural Models

Principal Investigator(s): View help for Principal Investigator(s) Günter Coenen; Christopher J. Erceg; Charles Freedman; Davide Furceri; Michael Kumhof; René Lalonde; Douglas Laxton; Jesper Lindé; Annabelle Mourougane; Dirk Muir; Susanna Mursula; Carlos de Resende; John Roberts; Werner Roeger; Stephen Snudden; Mathias Trabandt; Jan in't Veld

Version: View help for Version V1

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Project Citation:

Coenen, Günter, Erceg, Christopher J., Freedman, Charles, Furceri, Davide, Kumhof, Michael, Lalonde, René, … in’t Veld, Jan. Replication data for: Effects of Fiscal Stimulus in Structural Models. Nashville, TN: American Economic Association [publisher], 2012. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114238V1

Project Description

Summary: The paper subjects seven structural DSGE models, all used heavily by policymaking institutions, to discretionary fiscal stimulus shocks using seven different fiscal instruments, and compares the results to those of two prominent academic DSGE models. There is considerable agreement across models on both the absolute and relative sizes of different types of fiscal multipliers. The size of many multipliers is large, particularly for spending and targeted transfers. Fiscal policy is most effective if it has moderate persistence and if monetary policy is accommodative. Permanently higher spending or deficits imply significantly lower initial multipliers. (JEL E12, E13, E52, E62)

Scope of Project

Subject Terms: Fiscal Stimulus; Fiscal Multipliers; Government Deficits; Fiscal Policy

JEL Classification:
      E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
      E13 General Aggregative Models: Neoclassical
      E52 Monetary Policy
      E62 Fiscal Policy

Geographic Coverage: G20, United States, European Union, Worldwide, Euro Area, Global

Data Type(s): program source code

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V1 [2019-10-12]

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