02290cas a2200265 a 4500 AALejournalIMF018493 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484357972 1018-5941 BD-DhAAL BD-DhAAL Elkhdari, Maria. Empirical Estimation of Fiscal Multipliers in MENA Oil-Exporting Countries with an Application to Algeria / Maria Elkhdari, Moez Souissi, Andrew Jewell. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (39 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students At a time when Algeria must undertake considerable fiscal consolidation to restore sustainability, the issue of fiscal multipliers has come to the fore. This paper estimates short-term and long-term fiscal multipliers for Algeria applying several econometric methodologies, including Local Projection Methodology and Vector Autoregressive Models, and using both Algeria-specific and panel data. The paper also explores asymmetries related to the sign of the output gap as well as the direction of spending. The results suggest that (i) average fiscal multipliers for Algeria are generally moderate and below unity; (ii) the impact of public spending shocks is more important when the output gap is negative; (iii) fiscal spending multipliers are significantly larger during spending contraction than expansion; (iv) procyclicality in public spending does not appear to affect output, except for capital spending cuts when the output gap is negative; and (v) while multipliers associated with countercyclical public spending can be sizeable, a contraction in current spending does not materially affect non-oil GDP. Mode of access: Internet Jewell, Andrew. Souissi, Moez. IMF Working Papers; Working Paper ; No. 2018/124 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/124/001.2018.issue-124-en.xml IMF e-Library