00000nam 2200000za 4500 9.859347 CaOODSP 20221107160231 cr ||||||||||| 180719s2018 oncd ob f000 0 eng d CaOODSP eng eng fre FB3-5/2018-32E-PDF Priftis, Romanos. Sources of borrowing and fiscal multipliers [electronic resource] / by Romanos Priftis and Srecko Zimic. [Ottawa] : Bank of Canada, 2018. ii, 33 p. : col. charts. Bank of Canada staff working paper, 1701-9397 ; 2018-32 "July 2018." Includes bibliographical references (p. 21-24). "This paper finds that debt-financed government spending multipliers vary considerably depending on the location of the debt buyer. In a sample of 33 countries, we find that government spending multipliers are larger when government purchases are financed by issuing debt to foreign investors (non-residents), compared with when government purchases are financed by issuing debt to home investors (residents). A theoretical model (with flexible or sticky prices) shows that the location of the government creditor produces these differential responses to the extent that private investment is crowded out in each case. Increasing international capital mobility of the resident private sector decreases the difference between the two types of financing, both in the model and in the data"--Abstract, p. ii. Includes abstract in French. Public expenditures National debt Debt management Econometric models Zimic, Srecko. Bank of Canada. Staff working paper (Bank of Canada) 1701-9397 ; 2018-32. (CaOODSP)9.806221 PDF 1.78 MB https://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-32-eng.pdf