Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésien
This article proposes a synthesis and additional explanations to the concept of state-dependent fiscal multiplier. Recently, several studies have shown that this multiplier is endogenous to the level of economic activity, increasing during recessions and decreasing during booms. In what follows, we...
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| Format: | Article |
| Language: | English |
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Association Recherche & Régulation
2020-01-01
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| Series: | Revue de la Régulation |
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| Online Access: | https://journals.openedition.org/regulation/15306 |
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| author | Sébastien Charles |
| author_facet | Sébastien Charles |
| author_sort | Sébastien Charles |
| collection | DOAJ |
| description | This article proposes a synthesis and additional explanations to the concept of state-dependent fiscal multiplier. Recently, several studies have shown that this multiplier is endogenous to the level of economic activity, increasing during recessions and decreasing during booms. In what follows, we show that this variability can be explained partly by changing propensities to save and to import during the business cycle. Then, we incorporate endogenous propensities, varying with capacity utilisation, into a Post-Keynesian model. We perform some simulations showing that the multiplier increases during recessions which logically does not advocate a reduction in public spending when the economy is in crisis |
| format | Article |
| id | doaj-art-06a6e6b45302441793d64b5622195d53 |
| institution | Kabale University |
| issn | 1957-7796 |
| language | English |
| publishDate | 2020-01-01 |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj-art-06a6e6b45302441793d64b5622195d532025-01-30T14:26:41ZengAssociation Recherche & RégulationRevue de la Régulation1957-77962020-01-012610.4000/regulation.15306Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésienSébastien CharlesThis article proposes a synthesis and additional explanations to the concept of state-dependent fiscal multiplier. Recently, several studies have shown that this multiplier is endogenous to the level of economic activity, increasing during recessions and decreasing during booms. In what follows, we show that this variability can be explained partly by changing propensities to save and to import during the business cycle. Then, we incorporate endogenous propensities, varying with capacity utilisation, into a Post-Keynesian model. We perform some simulations showing that the multiplier increases during recessions which logically does not advocate a reduction in public spending when the economy is in crisishttps://journals.openedition.org/regulation/15306Multipliercyclepropensities |
| spellingShingle | Sébastien Charles Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésien Revue de la Régulation Multiplier cycle propensities |
| title | Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésien |
| title_full | Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésien |
| title_fullStr | Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésien |
| title_full_unstemmed | Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésien |
| title_short | Le multiplicateur budgétaire endogène au cycle dans un modèle macroéconomique post-keynésien |
| title_sort | le multiplicateur budgetaire endogene au cycle dans un modele macroeconomique post keynesien |
| topic | Multiplier cycle propensities |
| url | https://journals.openedition.org/regulation/15306 |
| work_keys_str_mv | AT sebastiencharles lemultiplicateurbudgetaireendogeneaucycledansunmodelemacroeconomiquepostkeynesien |