Impacts of Fiscal Policy Shocks in Finland
U Unal - 2014 - mpra.ub.uni-muenchen.de
2014•mpra.ub.uni-muenchen.de
This paper focuses on the responses of main macroeconomic indicators to the tax and
spending shocks in Finland using a structural VAR approach. The results suggest that GDP
increases in response to an increase in government spending whereas it falls in response to
an increase in total net taxes. The response of investment to both government spending and
total net tax shock is consistent with the Keynesian theory. The results also indicate that the
relative impact of government spending on output is lower than that of total net taxes.
spending shocks in Finland using a structural VAR approach. The results suggest that GDP
increases in response to an increase in government spending whereas it falls in response to
an increase in total net taxes. The response of investment to both government spending and
total net tax shock is consistent with the Keynesian theory. The results also indicate that the
relative impact of government spending on output is lower than that of total net taxes.
This paper focuses on the responses of main macroeconomic indicators to the tax and spending shocks in Finland using a structural VAR approach. The results suggest that GDP increases in response to an increase in government spending whereas it falls in response to an increase in total net taxes. The response of investment to both government spending and total net tax shock is consistent with the Keynesian theory. The results also indicate that the relative impact of government spending on output is lower than that of total net taxes.
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