Spending based fiscal adjustment requires decisions on when? and how much to cut public spending to minimise adveræ effects on economic growth. This requires precise estimates of the response of output to changes in the functional components of public spending. I call this the functional multiplier.I disaggregate government spending in 36 low-income countries over the Period 1984-2013 into its functional components. Using a GMM-IV model with fuel...
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2018/06/29
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Rapport
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128032
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1
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1
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2018/07/06
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Disclosed
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Estimating conditional functional multipliers
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