Policy Brief
Fiscal multipliers and debt dynamics using a DSGE approach
Much of the research on the impact of fiscal policy shocks on macroeconomic outcomes (e.g., fiscal multipliers) uses reduced-form modelling approaches such as vector auto-regressions to obtain empirical results. In a recent study1, we used this...
Working Paper
A medium-sized, open-economy, fiscal DSGE model of South Africa
Much of the research on fiscal multipliers has used reduced form modelling approaches. While these models have been extended to include richer controls and identification approaches, it remains unclear whether shocks identified capture the true...