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State-dependent
Working Paper
State-dependent fiscal multipliers and financial dynamics: An impulse response analysis by local projections for South Africa

The aim of this paper is to assess South Africa’s fiscal multiplier across different states of the economy, with a focus on the financial accelerator mechanism of fiscal policy shocks, by estimating impulse response functions from both linear a...

Fiscal multipliers impulse response State-dependent
Policy Brief
Policy implications of empirically estimated fiscal multipliers for South Africa

Despite the frequent use of fiscal policy for stabilization purposes, there remains significant uncertainty regarding the impact of fiscal policy decisions on macroeconomic outcomes. This impact is quantified by calculating fiscal multipliers...

Fiscal multipliers Fiscal policy State-dependent
Working Paper
Empirical estimates of fiscal multipliers for South Africa

Despite the frequent use of fiscal policy for stabilization purposes and the important role fiscal activism has played over the last decade, the size of budgetary multipliers (i.e...

Fiscal multipliers Fiscal policy State-dependent
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