This article discusses recent research on the macroeconomic effects of fiscal policy—the
theme of the 2018 edition of the Melbourne Institute Macroeconomic Policy Meeting. We …

The literature on fiscal multipliers is far from having reached an agreed upon conclusion.
One result, however, seems very robust: in OECD economies, fiscal consolidations based …

A recent strand of work builds on the intuition and evidence regarding the importance of the
structure of production network for the transmission of macroeconomic and financial shocks …

While recent work has emphasized that production networks help in the propagation of oil
shocks, this paper emphasizes the role of social connections in propagating the effect of oil …

Does the production network structure matter for the transmission of oil shocks? Using a
Bayesian time-varying VAR, the paper derives the impact of oil shocks on GDP for a set of …

Based on a connection between network analysis and B-VAR models, this paper provides a
first empirical evidence of the relationships between capital centralization expressed in …

Recent empirical evidence suggests that fiscal consolidation based mainly on tax hikes has
a more recessionary impact on economic growth than that based on expenditure cuts. This …

The question is difficult to answer for at least three reasons. The first is “endogeneity,” the
two-way interaction between fiscal policy and output growth. Suppose you observe a …

This thesis comprises three essays that analyze how fiscal policy affects the macroeconomy.
Each essay investigates a particular feature of fiscal policy propagation. The first essay …