000	01972nam  2200325za 4500
001	9.859347
003	CaOODSP
005	20221107160231
007	cr |||||||||||
008	180719s2018    oncd    ob   f000 0 eng d
040	|aCaOODSP|beng
041	|aeng|bfre
086	1 |aFB3-5/2018-32E-PDF
100	1 |aPriftis, Romanos.
245	10|aSources of borrowing and fiscal multipliers |h[electronic resource] / |cby Romanos Priftis and Srecko Zimic.
260	|a[Ottawa] : |bBank of Canada, |c2018.
300	|aii, 33 p. : |bcol. charts.
490	1 |aBank of Canada staff working paper, |x1701-9397 ; |v2018-32
500	|a"July 2018."
504	|aIncludes bibliographical references (p. 21-24).
520	3 |a"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.
546	|aIncludes abstract in French.
693	4|aPublic expenditures
693	4|aNational debt
693	4|aDebt management
693	4|aEconometric models
700	1 |aZimic, Srecko.
710	2 |aBank of Canada.
830	#0|aStaff working paper (Bank of Canada)|x1701-9397 ; |v2018-32.|w(CaOODSP)9.806221
856	40|qPDF|s1.78 MB|uhttps://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-32-eng.pdf