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Who benefits from increased government spending? a state-level analysis

Owyang, Michael T.; Zubairy, Sarah - Federal Reserve Bank of St. Louis - 2009

We simultaneously identify two government spending shocks: military spending shocks as defined by Ramey (2008) and federal spending shocks as defined by Perotti (2008). We analyze the effect of these shocks on state-level personal income and employment. We find regional patterns in the manner in...

Persistent link: https://www.econbiz.de/10004973900

Durable good inventories and the volatility of production : explaining the less volatile U.S. economy

Wen, Yi (contributor) - 2005

"This paper provides a simple dynamic optimization model of durable goods inventories. Closed-form solutions are derived in a general equilibrium environment with imperfect information and serially correlated shocks. The model is then applied to scrutinize some popular conjectures regarding the...

Persistent link: https://www.econbiz.de/10002956727

The effects of annuities, bequests, and aging in an overlapping generations model of endogenous growth.

Pecchenino, Rowena A.; Pollard, Patricia S. - Federal Reserve Bank of St. Louis - 1995

model of endogenous growth. We find the complete annuitization of agents' wealth is not, in general, dynamically optimal …

Persistent link: https://www.econbiz.de/10005352823

Modeling U.S. households' demand for liquid wealth in an era of financial change

Collins, Sean; Anderson, Richard G. - Federal Reserve Bank of St. Louis - 1997

using a model of household demand for liquid wealth. The model is a dynamic generalization of the almost-ideal demand model …

Persistent link: https://www.econbiz.de/10005352970

The distribution of wealth, 1983-1992: secular growth, cyclical stability

Weicher, John C. - Federal Reserve Bank of St. Louis - 1996

This article describes the changes in the concentration of wealth among U.S. households between 1983 and 1992, a period … which nearly coincides with the most recent business cycle. The distribution of wealth has received popular attention … wealth and wealth per household increased over the cycle; rich and poor households enjoyed an approximately equal gain, in …

Persistent link: https://www.econbiz.de/10005490895