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150128 ||| eng |
| 020 |
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|a 9781475560473
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| 100 |
1 |
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|a Muir, Dirk
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| 245 |
0 |
0 |
|a Fiscal Multipliers in Bulgaria
|b Low But Still Relevant
|c Dirk Muir, Anke Weber
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2013
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| 300 |
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|a 19 pages
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| 651 |
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4 |
|a Bulgaria
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| 653 |
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|a National Government Expenditures and Related Policies: Infrastructures
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| 653 |
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|a Public investment spending
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| 653 |
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|a Public finance & taxation
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| 653 |
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|a Fiscal multipliers
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| 653 |
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|a Fiscal Policy
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| 653 |
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|a Fiscal consolidation
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| 653 |
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|a Computable and Other Applied General Equilibrium Models
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| 653 |
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|a Fiscal policy
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| 653 |
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|a Other Public Investment and Capital Stock
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| 653 |
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|a Quantitative Policy Modeling
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| 653 |
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|a Prices, Business Fluctuations, and Cycles: Forecasting and Simulation
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| 653 |
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|a National Government Expenditures and Related Policies: General
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| 653 |
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|a Expenditure
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| 653 |
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|a Cycles
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| 653 |
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|a Expenditures, Public
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Business Fluctuations
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| 653 |
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|a Public investments
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| 653 |
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|a National Budget, Deficit, and Debt: General
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| 653 |
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|a Public Finance
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| 653 |
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|a Forecasting and Simulation: Models and Applications
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| 700 |
1 |
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|a Weber, Anke
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781475560473.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2013/049/001.2013.issue-049-en.xml?cid=40342-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|a With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and model-based approaches. While fiscal multipliers have been modest in the past, as can be expected in a small open emerging economy, the effect on output is not independent of the speed of adjustment and the specific consolidation measures used. The impact of fiscal policy on economic activity is larger in downturns than in expansions and capital spending and direct taxes are associated with the largest effects on output, while non-targeted government transfers and indirect taxes are associated with a smaller impact. The results suggest that increased capital spending financed by higher indirect tax revenue collections through base broadening has sizeable growth effects over the medium and long-term
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