The anatomy of fiscal multiplier

Detalhes bibliográficos
Autor(a) principal: Gabriel, Allan Batista
Data de Publicação: 2021
Tipo de documento: Tese
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: https://hdl.handle.net/10438/31063
Resumo: O presente trabalho desenvolve quatro modelos DSGE com Markov-switching, usando uma variedade de fricções sob diferentes regimes de política monetária e fiscal. Estimam-se multiplicadores fiscais para os Estados Unidos e Brasil usando uma abordagem Bayesiana. Os resultados encontrados indicam uma concordância razoável entre os modelos em relação ao multiplicador fiscal. As mudanças de regime seguindo uma cadeia de Markov sugerem que o intervalo dos valores dos multiplicadores pode ser mais estreito do que apresentados na literatura. O tamanho dos multiplicadores é maior sob o regime passivo monetário/ativo fiscal do que sob o regime ativo monetário/passivo fiscal.
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spelling Gabriel, Allan BatistaEscolas::EESPTeles, Vladimir KuhlMasini, RicardoInhasz, JulianaMatos Filho, Jose CoelhoCamargo, Bráz Ministério de2021-09-09T21:03:20Z2021-09-09T21:03:20Z2021-07-29https://hdl.handle.net/10438/31063O presente trabalho desenvolve quatro modelos DSGE com Markov-switching, usando uma variedade de fricções sob diferentes regimes de política monetária e fiscal. Estimam-se multiplicadores fiscais para os Estados Unidos e Brasil usando uma abordagem Bayesiana. Os resultados encontrados indicam uma concordância razoável entre os modelos em relação ao multiplicador fiscal. As mudanças de regime seguindo uma cadeia de Markov sugerem que o intervalo dos valores dos multiplicadores pode ser mais estreito do que apresentados na literatura. O tamanho dos multiplicadores é maior sob o regime passivo monetário/ativo fiscal do que sob o regime ativo monetário/passivo fiscal.This work estimates four Markov-switching dynamic stochastic general equilibrium (MS-DSGE) models using different fiscal instruments and frictions. We quantify government spending multipliers in the United States and Brazil using prior and posterior analyses with monetary fiscal policy regimes. There is considerable agreement across models on the absolute and relative sizes of different multipliers. The Markov chain governing regime switching suggests that the range of multipliers could be narrower. The size of many multipliers is larger for passive monetary/active fiscal than for active monetary/passive fiscalengMarkov-switchingDSGEPolítica fiscalPolítica monetáriaMultiplicador fiscalDSGEEconomiaPolítica tributáriaPolítica monetáriaMultiplicador (Economia)Modelos macroeconômicosThe anatomy of fiscal multiplierinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/doctoralThesisinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINALThesis - Anatomy of Fiscal Multiplier - MS_DSGE - Allan Batista Gabriel 30.08.21 vf.pdfThesis - Anatomy of Fiscal Multiplier - MS_DSGE - Allan Batista Gabriel 30.08.21 vf.pdfPDFapplication/pdf9818421https://repositorio.fgv.br/bitstreams/f377ad95-1a77-4777-b3d5-8aa1bb83b1d7/download1a57e0ca27e6cfc03dd699c2d3a516b3MD51LICENSElicense.txtlicense.txttext/plain; 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dc.title.eng.fl_str_mv The anatomy of fiscal multiplier
title The anatomy of fiscal multiplier
spellingShingle The anatomy of fiscal multiplier
Gabriel, Allan Batista
Markov-switching
DSGE
Política fiscal
Política monetária
Multiplicador fiscal
DSGE
Economia
Política tributária
Política monetária
Multiplicador (Economia)
Modelos macroeconômicos
title_short The anatomy of fiscal multiplier
title_full The anatomy of fiscal multiplier
title_fullStr The anatomy of fiscal multiplier
title_full_unstemmed The anatomy of fiscal multiplier
title_sort The anatomy of fiscal multiplier
author Gabriel, Allan Batista
author_facet Gabriel, Allan Batista
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EESP
dc.contributor.member.none.fl_str_mv Teles, Vladimir Kuhl
Masini, Ricardo
Inhasz, Juliana
Matos Filho, Jose Coelho
dc.contributor.author.fl_str_mv Gabriel, Allan Batista
dc.contributor.advisor1.fl_str_mv Camargo, Bráz Ministério de
contributor_str_mv Camargo, Bráz Ministério de
dc.subject.eng.fl_str_mv Markov-switching
topic Markov-switching
DSGE
Política fiscal
Política monetária
Multiplicador fiscal
DSGE
Economia
Política tributária
Política monetária
Multiplicador (Economia)
Modelos macroeconômicos
dc.subject.por.fl_str_mv DSGE
Política fiscal
Política monetária
Multiplicador fiscal
DSGE
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Política tributária
Política monetária
Multiplicador (Economia)
Modelos macroeconômicos
description O presente trabalho desenvolve quatro modelos DSGE com Markov-switching, usando uma variedade de fricções sob diferentes regimes de política monetária e fiscal. Estimam-se multiplicadores fiscais para os Estados Unidos e Brasil usando uma abordagem Bayesiana. Os resultados encontrados indicam uma concordância razoável entre os modelos em relação ao multiplicador fiscal. As mudanças de regime seguindo uma cadeia de Markov sugerem que o intervalo dos valores dos multiplicadores pode ser mais estreito do que apresentados na literatura. O tamanho dos multiplicadores é maior sob o regime passivo monetário/ativo fiscal do que sob o regime ativo monetário/passivo fiscal.
publishDate 2021
dc.date.accessioned.fl_str_mv 2021-09-09T21:03:20Z
dc.date.available.fl_str_mv 2021-09-09T21:03:20Z
dc.date.issued.fl_str_mv 2021-07-29
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/doctoralThesis
format doctoralThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://hdl.handle.net/10438/31063
url https://hdl.handle.net/10438/31063
dc.language.iso.fl_str_mv eng
language eng
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