English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113325/144300 (79%)
Visitors : 51167443      Online Users : 894
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/108130


    Title: 財政政策的乘數效果-追蹤資料分量迴歸之應用
    The multiplier effect of fiscal policy-an application of panel data quantile regression
    Authors: 徐鵬凱
    Hsu, Peng Kai
    Contributors: 林馨怡
    Lin, Hsin Yi
    徐鵬凱
    Hsu, Peng Kai
    Keywords: 財政政策
    景氣
    分量迴歸
    追蹤資料
    Fiscal policy
    Business cycle
    Quantile regression
    Panel data
    Date: 2016
    Issue Date: 2017-04-05 15:39:10 (UTC+8)
    Abstract: 在 2008 年金融危機之後,財政政策的非線性效果已漸漸受到關注。本文使用 1960-2012 年 48 個國家的季資料分析財政政策的非線性效果,並使用動態追蹤資料分量迴歸模型來驗證當經濟處在不同的景氣階段時,財政政策是否有不同的成效。本文發現,景氣處在相對較差的階段時,財政政策乘數較大,而景氣處在相對較好的階段時,財政政策乘數則較小,實證結果支持財政政策確實具有非線性效果。本文可提供政府在政策制定上之參考依據,並合理化政府利用財政工具拯救經濟的手段。
    Reference: Aghion, P., Hémous, D., Kharroubi, E., 2014.
    Cyclical Fiscal Policy, Credit Constraint, and Industry Growth.
    Journal of Monetary Economics, 62, 43--58.

    Aiyagari, S. R., Christiano, L. J., Eichenbaum, M., 1992.
    The Output, Employment, and Interest Rate Effects of Government Consumption.
    Journal of Monetary Economics, 30(1), 73--86.

    Anderson, T. W., Hsiao, C., 1981.
    Estimation of Dynamic Models with Error Components.
    Journal of the American Statistical Association, 76(375), 598--606.

    Arellano, M., Bond, S., 1991.
    Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.
    The Review of Economic Studies, 58(2), 277--297.

    Arellano, M., Bover, O., 1995.
    Another Look at Instrumental Variables Estimation of Error Components Models.
    Journal of Econometrics, 68, 29--51.

    Auerbach, A. J., Gorodnichenko, Y., 2012.
    Measuring the Output Responses to Fiscal Policy.
    American Economic Journal: Economic Policy, 4(2), 1--27.

    Auerbach, A. J., Gorodnichenko, Y., 2013.
    Fiscal Multipliers in Recession and Expansion.
    In: Fical Policy after the Financial Crisis, Alberto Alesina and Francesco Giavazzi, eds., University of Chicago Press.

    Bachmann, R., Sims, E. R., 2012.
    Confidence and the Transmission of Government Spending Shocks.
    Journal of Monetary Economics, 59, 235--249.

    Baltagi, B. H., 2005.
    Econometric Analysis of Panel Data.
    3rd. Chichester, UK: Wiley.

    Barro, R. J., 1981.
    Output Effects of Government Purchases.
    Journal of Political Economy, 89(6), 1086--1121.

    Barro, R. J., King, R. G. 1984.
    Time-Separable Preferences and Intertemporal-Substitution Models of Business Cycles.
    The Quarterly Journal of Economics, 99(4), 817--39.

    Barro, R. J., Redlick, C. J. 2011.
    Macroeconomic Effects from Government.
    The Quarterly Journal of Economics, 126(1), 51--102.

    Baxter, M., King, R. G., 1993.
    Fiscal Policy in General Equilibrium.
    American Economic Review, 83(3), 315--34.

    Beetsma, R., Giuliodori, M., 2011.
    The Effects of Government Purchase Shocks: Review and Estimates for the EU.
    The Economic Journal, 121 (February), 4--32.

    Bernanke, B., Mihove, I., 1998.
    Measuring Monetary Policy.
    The Quarterly Journal of Economics, CXIII, 315--334.

    Blanchard, O., Perotti, R., 2002.
    An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output.
    The Quarterly Journal of Economics, 117, 1329--1368.

    Caggiano, G., Castelnuovo, E., Colombo, V., Nodari, G., 2015.
    Estimating Fiscal Multipliers: News from a Non-linear World.
    The Economic Journal, 125 (May), 746--776.

    Cameron, A. C., Trivedi, P. K., 2005.
    Microeconometrics: Methods and Applications.
    Cambridge University Press, New York, May 2005.

    Canay, I. A., 2011.
    A Simple Approach to Quantile Regression for Panel Data.
    The Econometrics Journal, 14, 368--386.

    Canzoneri, M., Collard, F., Dellas, H., Diba, B., 2012.
    Fiscal Multiplers in Recession.
    Mimeo, Georgetown University and University of Bern.

    Christiano, R., Eichenbaum, M., Rebelo, S., 2011.
    When is the Government Spending Multiplier Large.
    Journal of Political Economy, 119, no. 1.

    Cogan, J. F., Cwik, T., Taylor, J. B., Wieland, V,. 2010.
    New Keynesian Versus Old Keynesian Government Spending Multipliers.
    Journal of economic dynamics and control, 34(3), 281--95.

    Corsetti, G., Meier, A., Müller, G., 2012.
    What Determines Government Spending Multipliers.
    IMF Working Paper, 12/150.

    Cúrdia, V., Woodford, M., 2010.
    Credit Spreads and Monetary Policy.
    Journal of Money, Credit and Banking, 42, Issue S1, 3--35.

    Edelberg, W., Eichenbaum M., Fisher, J. D. M., 1999.
    Understanding the Effects of a Shock to Government Purchases.
    Review of Economic Dynamics, 2(1), 166--206.

    Eggertsson, G. B., 2010.
    What Fiscal Policy is Effective at Zero Interest Rate.
    NBER Macroeconomics Annual 2010, Volume 25, University of Chicago Press.

    Eggertsson, G. B. Woodford, M., 2003.
    The Zero Bound on Interest Rates and Optimal Monetary Policy.
    Brookings Papers on Economic Activity, 1, 139--211.

    Evans, M. K., 1969.
    Reconstruction and Estimation of the Balanced Budget Multiplier.
    Review of Economics and Statistic, 51(1), 14--25.

    Flannery, M. J., Hankins, K. W., 2013.
    Estimating Dynamic Panel Models in Corporate Finance.
    Journal of Corporate Finance, 19, 1--19.

    Galí, J., Vallès, J., López-Salido, J. D., 2007.
    Understanding the Effects of Government Spending in Consumption.
    Journal of the European Economic Association, 5(1), 227--70.

    Gordon, R. J., Krenn, R., 2010.
    The End of the Great Depression 1939-41: Policy Contributions and Fiscal Multipliers.
    NBER Working Paper No. 16380.

    Hall, R. E. 1986.
    The Role of Consumption in Economic Fluctuations.
    The American Business Cycle: Continuity and Change, University of Chicago Press.

    Hall, R. E. 2009.
    By How Much Does GDP Rise if the Government Buys More Output.
    NBER Working Paper No. 15496.

    Ilzetzki, E., Mendoza, E. G., Végh, C. A., 2013.
    How Big(Small?) are Fiscal Multipliers?
    Journal of Monetary Economics, 60, 239--254.

    International Monetary Fund (IMF), 2014.
    Is it Time for an Infrastructure Push? The Macroeconomic Effects of Public Investment.
    World Economic Outlook: Legacies, Clouds, Uncertainties, October 2014, Ch3, 75--114.

    Kraay, A., 2012.
    How Large is the Government Spending Multiplier? Evidence from the World Bank Lending.
    The Quarterly Journal of Economics, 127, 829--887.

    Koenker, R., 2004.
    Quantile Regression for Longitudinal Data.
    Journal of Multivariate Analysis, 91, 74--89.

    Koenker, R., Bassett, G., 1978.
    Regression Quantiles.
    Econometrica, 46, 33--50.

    Lin, H. Y., 2010.
    Endogeneity in Panel Data Quantile Regression Models: A Fitted Value Approach.
    Working Paper, National Chengchi University.

    Michaillat, P., 2014.
    A Theory of Countercyclical Government Multiplier.
    American Economic Journal: Macroeconomics, 6(1), 190--217.

    Mountford, A., Uhlig, H., 2009.
    What are the Effects of Fiscal Policy Shocks.
    Journal of Applied Econometrics, 24, 960--992.

    Nakamura, E., Steinsson, J., 2014.
    Fiscal Stimulus in a Monetary Union: Evidence from US Regions.
    American Economic Review, 104(3), 753--792.

    Owyang, M. T., Ramey, V. A., Zubairy, S., 2013.
    Are Government Spending Multipliers Greater during Periods of Slack? Evidence from Twentieth-Century Historical Data.
    American Economic Review: Papers & Proceeding, 103(3), 129--134.

    Perotti, R., 1999.
    Fiscal Policy in Good Times and Bad.
    The Quarterly Journal of Economics, 114, 1399--1436.

    Perotti, R., 2005.
    Estimating the Effects of Fiscal Policy in OECD Countries.
    CEPR Discussion Papers 4842.

    Perotti, R., 2007.
    In Search of the Transmission Mechanism of Fiscal Policy.
    NBER Working Paper NO. 13143.

    Ramey, V. A., 2011a.
    Identifying Government Spending Shocks: It"s All in the Timing.
    The Quarterly Journal of Economics, 126, 1--50.

    Ramey, V. A., 2011b.
    Can Government Purchases Stimulate the Economy?
    Journal of Economic Literature, 49(3), 673--685.

    Ramey, V. A., Shapiro, M. D., 1998.
    Costly Capital Reallocation and the Effects of Government Spending.
    In: Carnegie-Rochester Conference Series on Public Policy, 48, 145--194.

    Ramey, V. A., Zubairy, S., 2014.
    Government Spending Multipliers in Good Time and in Bad: Evidence from U.S. Historical Data.
    NBER Working Paper No. 20719.

    Ravn, M. O., 2006.
    Deep Habits.
    The Review of Economic Studies, 73, 159--218.

    Ravn, M. O., Schmitt-Grohé, M., Uribe M., 2012.
    Consumption, Government Spending, and the Real Exchange Rate.
    Journal of Monetary Economics, 59, 215--234.

    Rotemberg, J. J., Woodford, M., 1992.
    Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity.
    Journal of Political Economy, 100, 1153--1207.

    Riera-Crichton, A., Vegh, C. A., Vuletin, G., 2014.
    Procyclical and Countercyclical Fiscal Multipliers: Evidence from OECD Countries.
    NBER Working Paper No. 20533.

    Smets, F., Wouters, R., 2007.
    Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach.
    American Economic Review, 97, 586--606.

    Uhlig, H., 2005.
    What are the Effects of Monetary Policy? Results from an Agnostic Identification Procedure.
    Journal of Monetary Economics, 52, 381--419.
    Description: 碩士
    國立政治大學
    經濟學系
    103258003
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0103258003
    Data Type: thesis
    Appears in Collections:[經濟學系] 學位論文

    Files in This Item:

    File SizeFormat
    800301.pdf1369KbAdobe PDF236View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏,無償提供學術研究與公眾教育等公益性使用,惟仍請適度,合理使用本網站之內容,以尊重著作權人之權益。商業上之利用,則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作,已盡力防止侵害著作權人之權益,如仍發現本網站之數位內容有侵害著作權人權益情事者,請權利人通知本網站維護人員(nccur@nccu.edu.tw),維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback