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Government Spending Shocks and the Multiplier : New Evidence from the U.S. Based on Natural Disasters
Yang, Weonho - 2012
, the expenditure associated with military build-ups affects primarily the defense sector so that the resulting multiplier … powerful instrument for identifying government spending shocks. Furthermore, we show that the multiplier pertaining to non …-defense government spending is higher than the defense-spending multiplier estimated in the literature using military build-ups …
Persistent link: https://www.econbiz.de/10013097432
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Natural Disasters, Government Spending, and the Fiscal Multiplier
Fidrmuc, Jan - 2016
We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government … is reflected in the value taken by the fiscal multiplier. This result is obtained when we identify fiscal shocks by the …
Persistent link: https://www.econbiz.de/10013000433
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Fiscal Policy, Monopolistic Competition, and Finite Lives
Heijdra, Ben J. - 2006
multiplier; (ii) positive long-run output multipliers are obtained only if the generational turnover effect is dominated by the …
Persistent link: https://www.econbiz.de/10012783358
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Fiscal Multipliers in a Two-Sector Search and Matching Model
Angelopoulos, Konstantinos - 2015
This paper evaluates the effects of policy interventions on sectoral labour markets and the aggregate economy in a business cycle model with search and matching frictions. We extend the canonical model by including capital-skill complementarity in production, labour markets with skilled and...
Persistent link: https://www.econbiz.de/10013028533
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Productive Government Expenditure and Economic Growth
Irmen, Andreas; Kuehnel, Johanna - 2021
We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...
Persistent link: https://www.econbiz.de/10013316522
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Heterogeneous Government Spending Multipliers in the Era Surrounding the Great Recession
Bernardini, Marco - 2017
We use a novel quarterly dataset of U.S. states to examine the dynamics and determinants of relative government spending multipliers in the decade surrounding the Great Recession. We find average multipliers that are similar to those that have been reported for the decades preceding the crisis,...
Persistent link: https://www.econbiz.de/10012954356
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Private Debt Overhang and the Government Spending Multiplier : Evidence for the United States
Bernardini, Marco - 2015
Using state-dependent local projection methods and historical U.S. data, we find that government spending multipliers are considerably larger in periods of private debt overhang. In particular, we find significant crowding-out of personal consumption and investment in low-debt states, resulting...
Persistent link: https://www.econbiz.de/10013024365
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Fiscal Multipliers and the Choice of Zero Lower Bound Modeling
Siemsen, Thomas - 2013
multiplier. To this end we contrast two different ways to implement the ZLB in a New Keynesian model: the ZLB modeled as an … multiplier are not only due to differences in the timing assumption of government spending but also driven by the choice of the … ZLB modeling. Ceteris paribus, the impact multiplier is higher if the ZLB is modeled appropriately as a constraint …
Persistent link: https://www.econbiz.de/10013078525
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Fiscal Adjustments and Business Cycle Synchronization
Agnello, Luca - 2013
Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of...
Persistent link: https://www.econbiz.de/10013071388
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Macroeconomic Effects of Fiscal Adjustment : A Tale of Two Approaches
Yang, Weonho - 2013
We investigate the short-term effects of fiscal adjustment on economic activity in 20 OECD countries from 1970 to 2009. We compare two approaches: the traditional approach based on changes in cyclically adjusted primary balance (CAPB) and the narrative approach based on historical records....
Persistent link: https://www.econbiz.de/10013075620