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components. Consistent with theory, I estimate a government investment multiplier near zero and a government consumption … shocks have a much smaller fiscal multiplier than government consumption shocks. I test this prediction in a panel of OECD … multiplier of approximately 0.8. These findings suggest that fiscal stimulus packages which contain large government investment …
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This paper studies whether changes in the composition of public spending affect the macroeconomic consequences of fiscal consolidations. Based on a sample of 44 developing countries and 26 advanced economies during 1980-2019, results show that while fiscal consolidations tend to be on average,...
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RBC-Modelle sind ein wichtiger Bestandteil der makroökonomischen Theorie. In diesem Modellrahmen werden die Wirkungen …
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This paper quantitatively assesses the macroeconomic effects of the recently agreed U.S. bipartisan infrastructure spending bill in a neoclassical growth model. We add to the literature by considering a more detailed tax structure, different types of infrastructure spending and linkages between...
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