Fiscal multipliers and transfer payments

October 29, 2019 (EN)

Impact-oriented budget management, mandatory in Austria at the federal government level since 2013, supports evidence-based policy decision-making and effective impact monitoring. However, impact assessment reports have varied greatly in terms of their informative value and the verifiability of results. The Austrian Fiscal Advisory Council intends to revive the discussion on how the estimations of fiscal and economic effects of complex reform plans under the fiscal impact assessment exercise might become more comprehensive and transparent by applying well-established methods.

Programme, presentations and papers

Opening remarks

Gottfried Haber, President, Fiscal Advisory Council

SESSION I: FISCAL MULTIPLIERS FOR AUSTRIA

Chair: Edith Kitzmantel, Fiscal Advisory Council

What do we know about fiscal multipliers?

Johannes Holler, Office of the Fiscal Advisory Council
presentation (EN)
paper (EN)

Fiscal multipliers in Austria: a unified framework SVAR analysis

Jesús Crespo-Cuaresma, Vienna University of Economics and Business
presentation (EN)
paper (EN)

Discussant: Rafael Doménech, BBVA Research, Spain
presentation (EN)

On fiscal multipliers in New Keynesian small open economy models

Philip Schuster, Office of the Fiscal Advisory Council
presentation (EN)
paper (EN)

Discussant: Markus Riegler, Austrian Parliamentary Budget Office
presentation (EN)

SESSION II: MICROSIMULATION MODELING AS A COSTING TOOL

Chair: Ralf Kronberger, Fiscal Advisory Council

The FISK microsimulation model

Susanne Maidorn and Alena Bachleitner, Office of the Fiscal Advisory Council
presentation (EN)
paper (EN)
Executive Summary (EN)

The microsimulation toolkit of the Council for Budget Responsibility (CBR)

Zuzana Siebertová and Norbert Švarda, CBR, Slovakia
presentation (EN)

Discussant: Silvia Rocha-Akis, Austrian Institute of Economic Research
presentation (EN)