Belinga, Vincent; Ngouana, Constant Lonkeng - 2015
This paper provides estimates of the government spending multiplier over the monetary policy cycle. We identify … Forecasters (SPF) and from the Greenbook record. The state of monetary policy is inferred from the deviation of the U.S. Fed funds …-accommodative monetary policy. Our estimations also suggest that federal government spending may crowd-in or The latter result reconciles …