Measuring Tax Multipliers: The Narrative Method in Fiscal VARs †

By Carlo A. Favero, Francesco Giavazzi. 2012

200 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/fd2cbc344ae45adea2d02185dbb9768795a25dca

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In Economics and Econometrics

Citations in the corpus

Macroeconomic Shocks and Their Propagation (2016, background): “Francis and Ramey (2006) constructed new historical data for the United States and extended the analysis back to 1889.”
Fiscal Policy Multipliers on Subnational Government Spending (2012, background): “…spending.11 10 The explicit use of narrative shocks or some other clearly defined source of variation within a VAR or SVAR framework, as in Auerbach and Gorodnichenko (2012), Favero and Giavazzi (2012), and Ramey (2011) can also be an attractive source of relatively transparent identification.”
Fiscal Multipliers : Size, Determinants, and Use in Macroeconomic Projections (2014, background): “…FIRST-YEAR TAX MULTIPLIERS1 Study Country T Notes Cloyne (2013) United Kingdom 0.6 Maximum multiplier reached after 10 quarters (about 2.5) Favero and Giavazzi (2012) United States 0.7 Maximum multiplier reached after 9 quarters (just below 1) Guajardo and others (2014) Panel of OECD…”
Policy uncertainty and aggregate fluctuations (2018, unknown): “national elections has a dampening effect on corporate investment while Handley and Limao (2012) assess the impact of uncertainty about trade policies on firms’investment and entry decisions.”
Successful Austerity in the United States, Europe and Japan (2012, unknown): “When risk premia depend on the level of the stock of debt (for example, assuming that every percentage point 22 In this sense, this exercise can be considered the reverse of what Favero and Giavazzi (2012) do.”