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The Fiscal Spending Multiplier in a Panel of OECD Countries
Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
2016 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

This thesis sets out to explain the relationship between fiscal spending and economic growth. The relationship is established using a panel vector autoregression model estimated by GMM, using GDP growth and government spending on a panel of 30 OECD countries. The model used is tested with slight variations in specification which are concluded to be important in the finalized results. By altering the specification used in the model this thesis produces relatively different sizes on the multiplier effect both in the short run and in the long run effect. The size of the multiplier effect produced by this thesis is varying between 0.437 on the low side and 2.224 on the high side depending on a few alterations in model specification. Similarly, the long run multiplier effect is measured as 1.873 on the low side and 8.263 on the high side. The mean duration of the multiplier effect is estimated to be approximately 3 years.

Place, publisher, year, edition, pages
2016.
Keyword [en]
Fiscal multiplier effect, Panel vector autoregression, Panel of OECD countries, GMM.
National Category
Economics
Identifiers
URN: urn:nbn:se:umu:diva-129233OAI: oai:DiVA.org:umu-129233DiVA: diva2:1058563
Available from: 2016-12-21 Created: 2016-12-21

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CiteExportLink to record
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Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf