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The effects of fiscal policy in New Zealand: Evidence from a VAR model with debt constraints

Parkyn, Oscar; Vehbi, Tugrul


This article investigates the macroeconomic effects of fiscal policy in New Zealand using a structural vector autoregression (SVAR) model. The model is the five-variable SVAR framework proposed by Perotti (2005), further augmented to allow for the possibility that taxes, spending and interest rates might respond to the level of the debt over time. We examine the dynamic responses of output, inflation and the interest rate to changes in government spending and revenues and analyse the...[Show more]

CollectionsANU Research Publications
Date published: 2014
Type: Journal article
Source: The Economic Record
DOI: 10.1111/1475-4932.12116


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