Estimating fiscal multipliers with correlated heterogeneity /
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Author / Creator: | Kitsios, Emmanouil, (IMF staff), author. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, 2016. |
Description: | 1 online resource (51 pages) : color illustrations. |
Language: | English |
Series: | IMF working paper ; WP/16/13 IMF working paper ; WP/16/13. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12505697 |
Table of Contents:
- Cover; Contents; I. Introduction; II. Empirical identification with heterogeneity; A. Identification using panel data; B. Identification using panel data and instrumental variables; C. Identifying instrument: Fuel subsidies and oil price shocks; D. Identifying conditions and estimation; III. Data sources; IV. Results; V. Robustness checks; A. Inference and outliers; B. Instrument validity; VI. Quantile estimates of the fiscal multiplier; VII. Conclusions; References; VIII. Appendix; A. Motivation for heterogeneity; B. Identification and estimation of the CRC model; Tables.
- 1. Summary Statistics2. Transition Matrix for Gasoline and Diesel Subsidy; 3. Descriptive Tests for Heterogeneity; 4. Elasticity of GDP to Government Spending: CRC Model Estimates; 5. Fiscal Multiplier Estimates (1/2); 6. Fiscal Multiplier Estimates (2/2); 7. Robustness; 8. Instrument Validity; Figures; 1. Retail price of gasoline and diesel in 2010; 2. Times series plot of international and domestic oil prices; 3. Changes in oil prices and government expenditure by fuel subsidy regime; 4. Quantile estimates of the fiscal multiplier (OLS and IV).