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government purchases multiplier. But equally crucial is the size of the government purchases multiplicand--the change in … government purchases of goods and services that the multiplier actually multiplies. Using new data from the Bureau of Economic … government purchases multiplier, changes in government purchases have had no material effect on the growth of GDP since the time …
Persistent link: https://www.econbiz.de/10012462152
. It uses trade linkages to estimate the multiplier effects of a shock as it is transmitted through other countries' output … multiplier effects are large and significant and can transmit shocks in very different patterns than predicted from a bilateral …-trade matrix. For example, due to these output-multiplier effects, a shock to one country can have a large impact on countries that …
Persistent link: https://www.econbiz.de/10012470116
evidence that Japan exported low quality manufactured goods to new, low-income destinations. Instead, reductions in trade costs … helped Japan augment market share. Exit is relatively rare but appears to be determined by market-specific demand …
Persistent link: https://www.econbiz.de/10012455200
Over the last decade, empirical studies analyzing macroeconomic conditions that may affect the size of government spending multipliers have flourished. Yet, in spite of their obvious public policy importance, little is known about public investment multipliers. In particular, the clear...
Persistent link: https://www.econbiz.de/10012480421
In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with...
Persistent link: https://www.econbiz.de/10012794559
We estimate local fiscal multipliers and spillovers for the United States using a rich dataset based on U.S. Department of Defense contracts and a variety of outcome variables relating to income and employment. We find strong positive spillovers across locations and industries. Both backward...
Persistent link: https://www.econbiz.de/10012479413
effects from these partisan differences. First, the transfer multiplier would rise by 0.60 if Republican governors were to … imply variation in the fiscal multiplier of 0.40. Local projection regressions support this prediction …
Persistent link: https://www.econbiz.de/10012482641
This paper investigates whether U.S. government spending multipliers differ according to two potentially important features of the economy: (1) the amount of slack and (2) whether interest rates are near the zero lower bound. We shed light on these questions by analyzing new quarterly historical...
Persistent link: https://www.econbiz.de/10012457947
We analyze whether government spending multipliers differ by the sign of the shock. Using aggregate historical U.S. data, we apply Ben Zeev's (2020) nonlinear diagnostic tests and find evidence of nonlinearities in the impulse response functions of both government spending and GDP. We then...
Persistent link: https://www.econbiz.de/10014247936
This paper presents experimental tables created by the U.S. Bureau of Economic Analysis comparing industry-specific shares of the components of total output of globally engaged firms located in the United States that are part of a multinational enterprise with those of firms that are part of an...
Persistent link: https://www.econbiz.de/10012480900