What are the Effects of Fiscal Policy Shocks

By A. Mountford, Harald Uhlig. 2009

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View Paper: https://www.semanticscholar.org/paper/d91b04cc790c19bccec1e067f6691880bd868532

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Citations in the corpus

Theory and Practice of GVAR Modeling (2016, positive): “…who consider restrictions on the long-run impact of shocks to identify the impulse responses; and the sign-restriction approach considered, among others, in Faust (1998), Canova and Pina (1999), Canova and de Nicoló (2002), Uhlig (2005), Mountford and Uhlig (2009) and Inoue and Kilian (2013).”
Fiscal Foresight and Information Flows (2012, background): “Existing work concludes that an anticipated cut in taxes may have little or no effect [Poterba (1988), Blanchard and Perotti (2002), Romer and Romer (2007a)], may be expansionary in the short run [Mountford and Uhlig (2008)], or may be contractionary in the short run [Branson, Fraga, and Johnson (19”
Government spending shocks in open economy VARs (2014, neutral): “…shock estimated with this specification is predicted by the forecasts reported in the Survey of Professional Forecasters 1Blanchard and Perotti, 2002, Fatas and Mihov, 2001, Gali, Lopez Salido and Valles, 2007, Mountford and Uhlig, 2002, and Perotti, 2002, 2007, find that consumption increases.”
DISENTANGLING DEMAND AND SUPPLY SHOCKS IN THE CRUDE OIL MARKET: HOW TO CHECK SIGN RESTRICTIONS IN STRUCTURAL VARS (2012, background): “…this approach is seen as an attractive alternative to identification via more classical exclusion restrictions and consequently it has been applied by a number of researchers (e.g., Mountford and Uhlig (2009), Lippi and Nobili (2011), Peersman and Straub (2009), Canova and Pappa (2007)).”
Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment (2012, neutral): “These four features make public infrastructure spending unique and, in particular, different from the type of government spending often analyzed in the literature on fiscal policy, which frequently focused on the effects of military spending (see, Ramey and Shapiro (1998), Edelberg, Eichenbaum, and ”
Why Does Private Consumption Rise After a Government Spending Shock (2007, neutral): “Mountford and Uhlig (2005), on the other hand, achieve identification by imposing sign restrictions on the impulse responses of fiscal variables as well as the orthogonality of fiscal policy shocks to business cycle and monetary policy shocks.”
Empirical evidence on the aggregate effects of anticipated and unanticipated US tax policy shocks (2012, result): “Our estimates of the impact of unanticipated tax liability changes on output are similar to the univariate results of Romer and Romer (2010) and to the impact of a “basic government revenue shock” estimated by Mountford and Uhlig (2009).”
THE IDENTIFICATION OF FISCAL AND MONETARY POLICY IN A STRUCTURAL VAR (2009, methodology): “These were initially applied to models examining monetary policy (Faust, 1998; Canova and de Nicoló, 2002; Uhlig, 2005) and more recently extended to fiscal policy shocks by Mountford and Uhlig (2005), Canova and Pappa (2007) and Canova and Paustian (2007).”