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Title:Consumption and Keynesian fiscal policy PDF Logo
Authors:Schclarek, Alfredo
Issue Date:2004
Series/Report no.:CESifo working papers 1310
Abstract:This paper empirically studies the effects of fiscal policy shocks on private consumption. Further, it tries to determine if the level of government bond yield and the unemployment rate affect that relationship. We use yearly data between 1970 and 2000 for thirty-eight countries, of which half are industrialized and half are developing countries. In general, the estimation results seem to indicate that government consumption shocks have Keynesian effects for both industrial and developing countries. In the case of tax shocks, the evidence suggest that they do not have any effects on private consumption. Furthermore, there is no evidence that favors the hypothesis of expansionary fiscal consolidations.
Subjects:fiscal policy
private consumption
government expenditure
taxation
developing countries
JEL:E21
C33
E62
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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