Template-Type: ReDIF-Article 1.0

Author-Name: Jorge Puig
Author-Workplace-Name: Universidad Nacional de La Plata


Title: Multiplicador del gasto público en Argentina


Abstract: This paper provides the first empirical estimates of Argentina's Public Sector spending multiplier using a structural vector autoregression methodology (SVARs). At the same time, it exploits the economic classification of expenditures to make a very interesting contribution by differentiating the multiplier between consumption expenditure and capital expenditure (public investment). Results support the great importance of such differentiation as consumption spending has moderate effects on output while public investment has much more expansive macroeconomic effects, resulting from the synergies it generates with the private sector. These facts reveal the importance of thinking public and private sectors as complements rather than substitutes (or rivals) and the need to abandon the pro-cyclical fiscal policies are emphasized.

Classification-JEL: E32

Keywords: Spending Multiplier, Fiscal Policy, Business Cycle, SVAR.

Journal: Económica

Pages: 188-210
Volume: 60
Year: 2014
Month: January-December
File-URL: https://revistas.unlp.edu.ar/Economica/article/view/5346/4376
File-Format: Application/pdf
Handle: RePEc:akh:journl:595