This paper reviews the theoretical and empirical literature on the effectiveness of fiscal
policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can …

This paper reviews the literature on Ricardian equivalence. This hypothesis may be
interpreted as a generalization to the short and the long run of the theories that put no weight …

This study attempts to determine the causal relationship between budget and current
account deficits as well as the direction of such causality. A selected sample of some …

We re-examine the causality between the twin deficits by testing for Granger non-causality
between BD and CAD based on extended causality tests initially developed by Toda and …

This paper analyses the causal relationship between budget deficit and current account
deficit for the Chinese economy using time series data over the period of 1985–2016. We …

When government borrows one dollar from domestic banking sector, how much does it
reduce private credit in develo** countries? There is surprisingly no reliable estimate in …

This paper uses cointegration and vector error-correction techniques, Granger-causality
tests and, generalized impulse response analysis to examine the" twin deficits" …

Driven by the observed growing budget deficit and the heavy reliance on debtfinancing from
the banking sector, this study sets to test the lazy banking hypothesis for Egypt. According to …

While fiscal adjustment is commonly viewed as the cornerstone of macroeconomic
stabilization, the effectiveness of alternative fiscal instruments in raising national saving is …

It is a well-established fact that Emerging Market Economies (EMEs) have smaller fiscal
multipliers than Advanced Economies (AEs). We confirm this difference for our sample using …