United Kingdom: Selected Issues
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Summary:
This Selected Issues paper examines from an empirical standpoint the impact of fiscal aggregates on the evolution of output and the real effective exchange rate in the United Kingdom from the late 1970s to the present. It finds that the size of the dynamic fiscal multipliers is small, and often statistically nonsignificant. The paper also finds that the direction of the impact of taxes and government consumption, but not of social transfers, is, if anything, the reverse of that predicted by standard Keynesian models.
Series:
Country Report No. 2002/046
Subject:
Consumption Fiscal policy Foreign exchange Government consumption Household consumption National accounts Real exchange rates
English
Publication Date:
March 7, 2002
ISBN/ISSN:
9781451814163/1934-7685
Stock No:
1GBREA0022002
Pages:
74
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