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The Effects of Fiscal Policy Shocks in Bangladesh: An Agnostic Identification Procedure
https://doi.org/10.24545/00001765
https://doi.org/10.24545/0000176562693660-fb1b-434f-b719-f4fd356b6ed9
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
DP20-08.pdf (1.2 MB)
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| Item type | ディスカッションペーパー / Discussion Paper(1) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 公開日 | 2020-08-27 | |||||||||
| タイトル | ||||||||||
| タイトル | The Effects of Fiscal Policy Shocks in Bangladesh: An Agnostic Identification Procedure | |||||||||
| 言語 | en | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Fiscal policy | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Monetary policy | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Business cycle | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Bayesian VAR | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Sign restrictions | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Bangladesh | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Fiscal shocks | |||||||||
| キーワード | ||||||||||
| 主題Scheme | Other | |||||||||
| 主題 | Tax policy | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ | technical report | |||||||||
| ID登録 | ||||||||||
| ID登録 (DOI) | 10.24545/00001765 | |||||||||
| ID登録タイプ | JaLC | |||||||||
| 著者 |
RAHAMAN, Ataur
× RAHAMAN, Ataur
× LEON-GONZALEZ, Roberto
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| 著者所属 | ||||||||||
| 値 | Bangladesh Bank (Central Bank of Bangladesh) | |||||||||
| 著者所属 | ||||||||||
| 値 | 政策研究大学院大学 / National Graduate Institute for Policy Studies | |||||||||
| 抄録 | ||||||||||
| 内容記述タイプ | Abstract | |||||||||
| 内容記述 | This paper analyzes the macroeconomic effects of fiscal shocks in Bangladesh using the sign restriction approach in a Bayesian structural vector autoregression (SVAR) framework. We identify a generic business cycle shock to deal with the endogenous movement of fiscal variables along with a monetary policy shock to absorb the variations due to those shocks. Both unanticipated and anticipated fiscal shocks, that is, government expenditure and revenue shocks, are also identified by minimal sign restrictions. In identifying those shocks, we do not impose any restrictions on the sign of the key variable of interest. We find that private investment and consumption significantly increase due to expansionary government expenditure shock. Such an increase in private consumption is consistent with neo-Keynesian prediction. The fall in output due to the tax increase shock is highly robust. Private consumption also decreases due to a tax increase, although investment does not. The results suggest that fiscal policy, especially tax policy, is more effective than monetary policy in stabilizing output. Moreover, the fiscal authority could increase government expenditure without hurting private investment. | |||||||||
| 内容記述 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | JEL Classification Codes: C32, E62, H20, H30, H50 | |||||||||
| 発行年 | ||||||||||
| 値 | 2020-08 | |||||||||
| 書誌情報 |
en : GRIPS Discussion Papers Report No. 20-08, 発行日 2020-08-27 |
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| 出版者 | ||||||||||
| 出版者 | GRIPS Policy Research Center | |||||||||
| 言語 | en | |||||||||
| 関連サイト | ||||||||||
| 関連タイプ | isIdenticalTo | |||||||||
| 識別子タイプ | URI | |||||||||
| 関連識別子 | https://ideas.repec.org/p/ngi/dpaper/20-08.html | |||||||||
| 関連名称 | https://ideas.repec.org/p/ngi/dpaper/20-08.html | |||||||||
| 著者情報 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | http://www.grips.ac.jp/list/jp/facultyinfo/leon_gonzalez_roberto/ | |||||||||
| 著者版フラグ | ||||||||||
| 出版タイプ | AM | |||||||||
| 出版タイプResource | http://purl.org/coar/version/c_ab4af688f83e57aa | |||||||||
