Non-ricardian aspects of fiscal policy in Chile

In this paper we examine the effects of government spending shocks in the Chilean economy. The study of the effects of such shocks in an emerging market economy is of special interest because of the potential presence of non-Ricardian households that is households that do not own any assets or have...

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Autores principales:	Céspedes, Luis Felipe, Fornero, Jorge, Galí, Jordi
Formato:	Artículo
Lenguaje:	eng
Publicado:	Banco Central de Chile 2019
Materias:	POLÍTICA FISCAL GASTOS PÚBLICOS
Acceso en línea:	https://hdl.handle.net/20.500.12580/3789
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spelling	oai-20.500.12580-37892021-04-24T11:06:37Z Non-ricardian aspects of fiscal policy in Chile Céspedes, Luis Felipe Fornero, Jorge Galí, Jordi POLÍTICA FISCAL GASTOS PÚBLICOS In this paper we examine the effects of government spending shocks in the Chilean economy. The study of the effects of such shocks in an emerging market economy is of special interest because of the potential presence of non-Ricardian households that is households that do not own any assets or have any liabilities and just consume their current labor income. The existence of non-Ricardian households has been suggested as a key ingredient in the transmission mechanism of government spending shocks in some developed economies. Several factors may explain non-Ricardian behavior including myopia and lack of access to capital markets. Such behavior is likely to be especially important in less developed economies. 2019-11-01T00:05:45Z 2019-11-01T00:05:45Z 2013 Artículo 978-956-7421-37-4 https://hdl.handle.net/20.500.12580/3789 eng Series on Central Banking Analysis and Economic Policies no. 17 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 283-322 application/pdf CHILE Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	eng
topic	POLÍTICA FISCAL GASTOS PÚBLICOS
spellingShingle	POLÍTICA FISCAL GASTOS PÚBLICOS Céspedes, Luis Felipe Fornero, Jorge Galí, Jordi Non-ricardian aspects of fiscal policy in Chile
description	In this paper we examine the effects of government spending shocks in the Chilean economy. The study of the effects of such shocks in an emerging market economy is of special interest because of the potential presence of non-Ricardian households that is households that do not own any assets or have any liabilities and just consume their current labor income. The existence of non-Ricardian households has been suggested as a key ingredient in the transmission mechanism of government spending shocks in some developed economies. Several factors may explain non-Ricardian behavior including myopia and lack of access to capital markets. Such behavior is likely to be especially important in less developed economies.
format	Artículo
author	Céspedes, Luis Felipe Fornero, Jorge Galí, Jordi
author_facet	Céspedes, Luis Felipe Fornero, Jorge Galí, Jordi
author_sort	Céspedes, Luis Felipe
title	Non-ricardian aspects of fiscal policy in Chile
title_short	Non-ricardian aspects of fiscal policy in Chile
title_full	Non-ricardian aspects of fiscal policy in Chile
title_fullStr	Non-ricardian aspects of fiscal policy in Chile
title_full_unstemmed	Non-ricardian aspects of fiscal policy in Chile
title_sort	non-ricardian aspects of fiscal policy in chile
publisher	Banco Central de Chile
publishDate	2019
url	https://hdl.handle.net/20.500.12580/3789
work_keys_str_mv	AT cespedesluisfelipe nonricardianaspectsoffiscalpolicyinchile AT fornerojorge nonricardianaspectsoffiscalpolicyinchile AT galijordi nonricardianaspectsoffiscalpolicyinchile
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Non-ricardian aspects of fiscal policy in Chile

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