Matches in SemOpenAlex for { <https://semopenalex.org/work/W3102572668> ?p ?o ?g. }
Showing items 1 to 59 of
59
with 100 items per page.
- W3102572668 endingPage "167" @default.
- W3102572668 startingPage "155" @default.
- W3102572668 abstract "Purpose - The effects of monetary policy can be limited given the environment of zero rate to minimize the negative economic impacts of the Covid-19 pandemic. Therefore, the importance of fiscal policy cannot be emphasized too much. Efficiency of fiscal policy is dependent upon the reactions of economic agents. This paper examines the asymmetric effects of macro economic policy and Ricardian Equivalence Proposition to find out whether reasonable economic agents react in a way of offsetting expansionary fiscal policy if the fiscal spending is funded by issuing the government debts. Design/Methodology/Approach - Panel structural Vector Auto Regression (Panel VAR) model was used. The quarterly data from 5 OECD Countries - Canada, Japan, Spain, Sweden and Korea for the period of 1990 to 2018 were examined. The level of government debt and age dependency ratio were set as exogenous variables. Asymmetric effects of policy were identified by imposing contemporaneous restrictions. And the Recursive Cholesky Decomposition was conducted to compare the effects of monetary and fiscal policy to stimulate economy. Findings - First, the level of government debt was not statistically significant. It indicates that empirical validation of the Ricardian Equivalence Hypothesis was not supported with our data. Second, the effect of fiscal policy is stronger than the effect of monetary policy when the trend of aging population is considered. The one unit of increase in the shares of elderly population leads to lower short term rates. This suggests the demand for consumption and investments gets weakened by demographic shift to old age. Research Implications - The reactions of heterogenous private agents are critical to enhance the efficiency of the macro policy. Therefore, social and economic structure to boost inclusive development is important in terms of tax systems." @default.
- W3102572668 created "2020-11-23" @default.
- W3102572668 creator A5050834044 @default.
- W3102572668 creator A5081403592 @default.
- W3102572668 date "2020-10-30" @default.
- W3102572668 modified "2023-10-14" @default.
- W3102572668 title "A Comparative Analysis on Effects of Fiscal and Monetary Policy Using Panel Structural VAR" @default.
- W3102572668 doi "https://doi.org/10.16980/jitc.16.5.202010.155" @default.
- W3102572668 hasPublicationYear "2020" @default.
- W3102572668 type Work @default.
- W3102572668 sameAs 3102572668 @default.
- W3102572668 citedByCount "1" @default.
- W3102572668 countsByYear W31025726682023 @default.
- W3102572668 crossrefType "journal-article" @default.
- W3102572668 hasAuthorship W3102572668A5050834044 @default.
- W3102572668 hasAuthorship W3102572668A5081403592 @default.
- W3102572668 hasConcept C120527767 @default.
- W3102572668 hasConcept C126285488 @default.
- W3102572668 hasConcept C139719470 @default.
- W3102572668 hasConcept C149782125 @default.
- W3102572668 hasConcept C162324750 @default.
- W3102572668 hasConcept C175025494 @default.
- W3102572668 hasConcept C2776743220 @default.
- W3102572668 hasConcept C2778489760 @default.
- W3102572668 hasConcept C524878704 @default.
- W3102572668 hasConcept C556758197 @default.
- W3102572668 hasConcept C6422946 @default.
- W3102572668 hasConceptScore W3102572668C120527767 @default.
- W3102572668 hasConceptScore W3102572668C126285488 @default.
- W3102572668 hasConceptScore W3102572668C139719470 @default.
- W3102572668 hasConceptScore W3102572668C149782125 @default.
- W3102572668 hasConceptScore W3102572668C162324750 @default.
- W3102572668 hasConceptScore W3102572668C175025494 @default.
- W3102572668 hasConceptScore W3102572668C2776743220 @default.
- W3102572668 hasConceptScore W3102572668C2778489760 @default.
- W3102572668 hasConceptScore W3102572668C524878704 @default.
- W3102572668 hasConceptScore W3102572668C556758197 @default.
- W3102572668 hasConceptScore W3102572668C6422946 @default.
- W3102572668 hasIssue "5" @default.
- W3102572668 hasLocation W31025726681 @default.
- W3102572668 hasOpenAccess W3102572668 @default.
- W3102572668 hasPrimaryLocation W31025726681 @default.
- W3102572668 hasRelatedWork W1487667563 @default.
- W3102572668 hasRelatedWork W1515738847 @default.
- W3102572668 hasRelatedWork W2118750051 @default.
- W3102572668 hasRelatedWork W2949045451 @default.
- W3102572668 hasRelatedWork W3121986622 @default.
- W3102572668 hasRelatedWork W3123960653 @default.
- W3102572668 hasRelatedWork W3124263458 @default.
- W3102572668 hasRelatedWork W3124296935 @default.
- W3102572668 hasRelatedWork W3124563766 @default.
- W3102572668 hasRelatedWork W4252184589 @default.
- W3102572668 hasVolume "16" @default.
- W3102572668 isParatext "false" @default.
- W3102572668 isRetracted "false" @default.
- W3102572668 magId "3102572668" @default.
- W3102572668 workType "article" @default.