Roman Lysenko (Ministry of Finance of Ukraine) - From Impulse to Impact: Measuring Fiscal Impulse and Multipliers in Ukraine

BOFIT-seminaarit

BOFIT Seminar - Roman Lysenko (Ministry of Finance of Ukraine) - From Impulse to Impact: Measuring Fiscal Impulse and Multipliers in Ukraine

Co-authors: Sofiia Talakh (Stockholm School of Economics) and Anastasiia Tsymbalista (American University Kyiv)

Abstract
The paper develops an adjusted framework for measuring fiscal impulse under wartime conditions, introducing Net-of-Grants and Civilian-Adjusted indicators and examining how the transmission mechanism of fiscal policy changes in the presence of large-scale military expenditures and external assistance. The Ukrainian case provides a unique empirical setting to reassess the interpretation of fiscal stance and multipliers under extraordinary shocks.

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