Time varying …scal policy in the U.S. ¤
Time varying …scal policy in the U.S. ¤
复制标题
美国的规模政策随时间变化¤
DOI：
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发表时间：
2010
期刊：
影响因子：
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通讯作者：
A. Lopes
中科院分区：
文献类型：
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作者：
M. Pereira;A. Lopes
研究…事件中的时间异质性在美国的Scal型政策中，我们使用非递归的Blanchard和Perotti类结构VAR，其参数是时变的，通过贝叶斯模拟估计1965：2-2009：2期间。我们的证据表明…SCAL政策已经失去了一些刺激产出的能力，但这一趋势在扣除转移支付的税收方面比在政府支出方面更为明显，后者的效率仅略有下降。财政乘数始终保持着传统的迹象。关于…变化的调查报告SCAL的政策行为表明，随着时间的推移，净税收的反周期激进主义有所增加，这似乎在2008-09年经济衰退期间达到了最高水平。
To investigate time heterogeneity in the eects of …scal policy in the U.S., we use a non-recursive, Blanchard and Perotti-like structural VAR with time-varying parameters, estimated through Bayesian simulation over the 1965:2-2009:2 period. Our evidence suggests that …scal policy has lost some capacity to stimulate output but that this trend is more pronounced for taxes net of transfers than for government expenditure, whose eectiveness declines only slightly. Fiscal multipliers keep conventional signs throughout. An investigation of changes in …scal policy conduct indicates an increase in the countercyclical activism of net taxes over time, which appears to have reached a maximum during the 2008-09 recession.