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An Analytical Characterization of Noisy Fiscal Policy

Fève, Patrick, Kass-Hanna, Tannous and Pietrunti, Mario (2016) An Analytical Characterization of Noisy Fiscal Policy. Economics Letters, vol. 148. pp. 76-79.

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Official URL: http://tse-fr.eu/pub/31005

Abstract

This paper provides an analytical characterization of the effects of noisy news shocks on fiscal policy. We consider a small-scale Dynamic Stochastic General Equilibrium (DSGE) model with capital accumulation and endogenous labor supply and show that noise dampens the propagation of anticipated fiscal policy over the business cycle, thus reducing the fiscal multiplier.

Item Type: Article
Language: English
Date: November 2016
Refereed: Yes
Uncontrolled Keywords: Government spending shocks, Expected shocks, Noisy Information, DSGE Models
JEL codes: C32 - Time-Series Models
E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 28 Sep 2016 07:38
Last Modified: 07 Mar 2018 13:23
OAI ID: oai:tse-fr.eu:31005
URI: http://publications.ut-capitole.fr/id/eprint/22394

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