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dc.contributor.authorMakin, Tonyen_US
dc.contributor.authorNarayan, Paresh Kumaren_US
dc.date.accessioned2017-05-03T12:19:30Z
dc.date.available2017-05-03T12:19:30Z
dc.date.issued2011en_US
dc.date.modified2012-05-31T22:37:12Z
dc.identifier.issn0812-0439en_US
dc.identifier.doi10.1111/j.1759-3441.2011.00120.xen_US
dc.identifier.urihttp://hdl.handle.net/10072/42534
dc.description.abstractThis paper examines the efficacy of fiscal policy in Australia, focusing on the relationship between changes in the economy's consolidated fiscal imbalance and private sector saving over recent decades. We first examine the macroeconomic significance of the offset co-efficient between public saving and private saving, whose size effectively determines the effectiveness of fiscal activism. The approach innovatively suggests that these estimates simultaneously reflect Ricardian and other non-Keynesian explanations of private consumption, such as the life cycle and permanent income theories. Econometric estimation of the offset coefficient for Australia over the period 1980 to 2008 yields values of between 0.75 to near unity, which imply a small or near-zero fiscal multiplier, and that running budget surpluses to lift national saving is ineffective.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_US
dc.format.extent91343 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglishen_US
dc.language.isoen_US
dc.publisherWiley-Blackwell Publishing Asiaen_US
dc.publisher.placeAustraliaen_US
dc.relation.ispartofstudentpublicationNen_US
dc.relation.ispartofpagefrom377en_US
dc.relation.ispartofpageto385en_US
dc.relation.ispartofissue3en_US
dc.relation.ispartofjournalEconomic Papers: a journal of applied economics and policyen_US
dc.relation.ispartofvolume30en_US
dc.rights.retentionYen_US
dc.subject.fieldofresearchMacroeconomics (incl. Monetary and Fiscal Theory)en_US
dc.subject.fieldofresearchcode140212en_US
dc.titleHow Potent is Fiscal Policy in Australia?en_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
gro.rights.copyrightCopyright 2011 The Economic Society of Australia. Published by Blackwell Publishing. This is the pre-peer reviewed version of the following article: How Potent is Fiscal Policy in Australia?, Economic Papers, Vol. 30(3), 2011, pp. 377-385, which has been published in final form at http://dx.doi.org/10.1111/j.1759-3441.2011.00120.x.en_US
gro.date.issued2011
gro.hasfulltextFull Text


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