预期财政政策冲击对日本宏观经济动态的影响

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2017-03-06 DOI:10.1111/jere.12140

Hiroshi Morita

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引用次数: 9

摘要

本研究调查了财政政策对日本宏观经济动态的影响，特别关注预期财政政策冲击和安倍经济学近期政策的影响。我们通过结合建筑业的超额股票回报和从理论模型中导出的具有鲁棒符号限制的向量自回归模型来识别预期的财政政策冲击。其主要结果是，GDP和消费对预期的财政政策冲击做出了积极反应。此外，对安倍经济学时期的历史分解结果表明，预期的财政政策冲击对消费动态有积极的贡献。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Effects of Anticipated Fiscal Policy Shock on Macroeconomic Dynamics in Japan

This study investigates the effects of fiscal policy on macroeconomic dynamics in Japan with a particular focus on the effects of anticipated fiscal policy shock and the recent policies of Abenomics. We identify anticipated fiscal policy shock by combining excess stock returns for the construction industry and the vector autoregressive model with robust sign restrictions derived from a theoretical model. The primary result is that GDP and consumption respond positively to anticipated fiscal policy shock. In addition, the result of the historical decomposition that focuses on the period of Abenomics reveals that anticipated fiscal policy shock positively contributes to consumption dynamics.

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.