Bems, Rudolfs (contributor); Dedola, Luca (contributor); … - 2007
business cycles because
they lead to a negative correlation between output and hours worked in the face of
nominal rigidities …, a one-standard
deviation positive government spending shock increases output in the short run by
about 0.1 to 0 … output, and if anything leads to a
fall in output. While in particular the latter result is quite surprising, it is …