Table 3.

International fiscal multipliers, one year after the shock

	Euro area	China	Japan	UK	Canada
Personal income tax rate (PITR)	0.12	0.07	0.04	0.13	0.11
Corporate income tax rate (CITR)	0.30	n.s.	0.23	0.40	0.19

Table  reports the fiscal multipliers, both for PITR and CITS shocks, for the Euro area, China, Japan, the UK and Canada. All reported multipliers are statistically significant