Gonzalez-Garcia, Jesus
[Verfasser:in]
;
Lemus, Antonio
[Sonstige Person, Familie und Körperschaft];
Gonzalez-Garcia, Jesus
[Sonstige Person, Familie und Körperschaft];
Mrkaic, Mico
[Sonstige Person, Familie und Körperschaft]
Beschreibung:
The multipliers of taxes, and government consumption and investment expenditure for the Eastern Caribbean Currency Union (ECCU) are estimated using vector autoregression models with panel data. The impact and long-run multipliers are below unity, suggesting that a great extent of the intended impulse ends up expanding imported demand. The long-run multipliers of taxes and consumption expenditure are non-different from zero statistically, while public investment has a long-run multiplier of 0.6. The results suggest that countercyclical policies to stimulate growth should focus on public investment