1、IMF Working Papers describe research in progress by the author(s)and are published to elicit comments and to encourage debate.The views expressed in IMF Working Papers are those of the author(s)and do not necessarily represent the views of the IMF,its Executive Board,or IMF management.2023 FEB Getti

2、ng into the Nitty-Gritty of Fiscal Multipliers:Small Details,Big Impacts Jos Federico Geli and Afonso S.Moura WP/23/WP/23/29 *We are grateful to Ali Alichi,Marie-Pierre Aquino Acoste,Andrew Berg,Francesca Caselli,Antoine Cornevin,Nikolay Gueorguiev,Zeina Hasna,Ryota Nakatani,Martin Schlinder,Koon Te

3、e,Anna Ter-Martirosyan and participants at the ICD DepartmentalSeminar for very helpful comments and suggestions.2022 International Monetary Fund WP/23/29 IMF Working Paper Institute for Capacity Development Getting into the Nitty-Gritty of Fiscal Multipliers:Small Details,Big Impacts Prepared by Jo

4、s Federico Geli,Afonso S.Moura*Authorized for distribution by Ali Alichi February 2023 IMF Working Papers describe research in progress by the author(s)and are published to elicit comments and to encourage debate.The views expressed in IMF Working Papers are those of the author(s)and do not necessar

5、ily represent the views of the IMF,its Executive Board,or IMF management.ABSTRACT:Despite the remarkable progress the literature has made throughout the past years in studying fiscal multipliers,estimates still vary considerably across studies.Partly,estimates differ because of context-specific vari

6、ables that affect multipliers,but also because of the lack of a standardized framework to calculate and report them,making comparisons among studies hard to make.In this paper,we use a large panel of countries to study how some important methodological details affect the empirical estimates.Focusing