The political economy of fiscal multipliers

Gustavo Cicchelli de Sá Vieira.

27/03/2017

Orientador: Eduardo Zilberman.

Banca: Luciano Vereda Oliveira. Tiago Couto Berriel.

This paper investigates if fiscal fragility influences the magnitude of fiscal multipliers. We define states of fiscal fragility based on the literature on politico-institutional determinants of fiscal deficits. Using quarterly data for 44 countries, we find that fiscal multipliers in fiscally fragile economies are smaller than in economies expected to have greater surpluses. 

M 386

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