{"id":49247,"date":"2023-11-20T15:47:47","date_gmt":"2023-11-20T14:47:47","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/production-structure-tradability-and-fiscal-spending-multipliers\/"},"modified":"2024-04-21T11:58:34","modified_gmt":"2024-04-21T09:58:34","slug":"production-structure-tradability-and-fiscal-spending-multipliers","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/49247\/","title":{"rendered":"Production Structure, Tradability and Fiscal Spending Multipliers"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-49247","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect of the share of nontradable goods on fiscal spending multipliers. Our empirical results provide strong evidence for the predictions of the theoretical model. They imply that the drag of fiscal consolidations is on average smaller in countries with a low share of nontradable goods.","onlinedate":"2023-08-02 12:00:00","lang":"English","publication_series":"","publication_date":"20230701","publication_date_year":"","publication_date_full":false,"publication_num_pages":"70","keywords":"[\"Fiscal spending multiplier\",\"Nontradable goods\",\"Openness\",\"DSGE model\",\"Interacted panel VAR model\"]","jelcodes":"[\"E23\",\"E62\",\"F41\",\"C23\"]","related_publications":"[\"a1b8b303-6858-499e-8b19-f3d3dad078ed\"]","pdf":257275,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"664","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":"2023-08-02 12:00:00","types":[44410],"research_groups":[3500],"collaboration":"","persons":[4963,3543],"persons_data":"[{\"personId\":4963,\"personName\":\"Jes\u00fas Crespo\",\"organisationNames\":[]},{\"personId\":3543,\"personName\":\"Christian Glocker\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Crespo, J.<\\\/span><span>, &amp; Glocker, C.<\\\/span> (2023). <span>Production Structure, Tradability and Fiscal Spending Multipliers<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (664).<\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Crespo J<\\\/span><span>, Glocker C<\\\/span>. <span class=\\\"title\\\"><span>Production Structure, Tradability and Fiscal Spending Multipliers<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2023 Jul;(664).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{f3ff7f39ff0d4596a596a4ad688bba2a,<\\\/div><div>  title    = \\\"Production Structure, Tradability and Fiscal Spending Multipliers\\\",<\\\/div><div>  abstract = \\\"We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect of the share of nontradable goods on fiscal spending multipliers. Our empirical results provide strong evidence for the predictions of the theoretical model. They imply that the drag of fiscal consolidations is on average smaller in countries with a low share of nontradable goods.\\\",<\\\/div><div>  keywords = \\\"Fiscal spending multiplier, Nontradable goods, Openness, DSGE model, Interacted panel VAR model\\\",<\\\/div><div>  author   = \\\"Jes{\\\\'u}s Crespo and Christian Glocker\\\",<\\\/div><div>  note     = \\\"Production Structure, Tradability and Fiscal Spending Multipliers\\\",<\\\/div><div>  year     = \\\"2023\\\",<\\\/div><div>  month    = jul,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - Production Structure, Tradability and Fiscal Spending Multipliers<\\\/p><p>AU  - Crespo, Jes\u00fas<\\\/p><p>AU  - Glocker, Christian<\\\/p><p>N1  - Production Structure, Tradability and Fiscal Spending Multipliers<\\\/p><p>PY  - 2023\\\/7<\\\/p><p>Y1  - 2023\\\/7<\\\/p><p>N2  - We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect of the share of nontradable goods on fiscal spending multipliers. Our empirical results provide strong evidence for the predictions of the theoretical model. They imply that the drag of fiscal consolidations is on average smaller in countries with a low share of nontradable goods.<\\\/p><p>AB  - We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect of the share of nontradable goods on fiscal spending multipliers. Our empirical results provide strong evidence for the predictions of the theoretical model. They imply that the drag of fiscal consolidations is on average smaller in countries with a low share of nontradable goods.<\\\/p><p>KW  - Fiscal spending multiplier<\\\/p><p>KW  - Nontradable goods<\\\/p><p>KW  - Openness<\\\/p><p>KW  - DSGE model<\\\/p><p>KW  - Interacted panel VAR model<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Production Structure, Tradability and Fiscal Spending Multipliers - WIFO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.wifo.ac.at\/en\/publication\/49247\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Production Structure, Tradability and Fiscal Spending Multipliers\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.wifo.ac.at\/en\/publication\/49247\/\" \/>\n<meta property=\"og:site_name\" content=\"WIFO\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WIFOat\/\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-21T09:58:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.wifo.ac.at\/wp-content\/uploads\/2024\/05\/WIFO-Gebaeude-FotoAlexanderMueller-www.alexandermueller.at-IMG_6326-Bearbeitet-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@WIFOat\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/49247\\\/\",\"url\":\"https:\\\/\\\/www.wifo.ac.at\\\/en\\\/publication\\\/49247\\\/\",\"name\":\"Production Structure, Tradability and Fiscal Spending Multipliers - 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