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Heterogeneous Government Spending Multipliers in the Era Surrounding the Great Recession

Bernardini, Marco - 2017

spending multipliers in the decade surrounding the Great Recession. We find average multipliers that are similar to those that … cumulative multipliers were around 2 in the impact quarter, but declined to less than 1 after one year. Second, implied relative … multipliers ranged between 0 and more than 4 across states at particular points in time, as well as for the same state at …

Persistent link: https://www.econbiz.de/10012954356

Fiscal Multipliers in a Two-Sector Search and Matching Model

Angelopoulos, Konstantinos - 2015

-skill premium. We next find that vacancy subsidies for skilled and unskilled jobs lead to output multipliers which are greater than …

Persistent link: https://www.econbiz.de/10013028533

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 spending in the U.S. states in the wake of natural disasters to capture spending shocks that are both unexpected and unrelated to the preceding state of the economy. We find that...

Persistent link: https://www.econbiz.de/10013000433

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 … intertemporal labor supply effect; (iii) short-run output multipliers under lump-sum tax financing are smaller than long-run output … multipliers if labor supply is elastic; and (iv) bond financing reduces the size of long-run output multipliers as compared to …

Persistent link: https://www.econbiz.de/10012783358

Fiscal Multipliers and the Choice of Zero Lower Bound Modeling

Siemsen, Thomas - 2013

In this note we elaborate on the effect of the modeling choice of the zero lower bound on the size of the fiscal multiplier. To this end we contrast two different ways to implement the ZLB in a New Keynesian model: the ZLB modeled as an endogenous central bank reaction to a contractionary demand...

Persistent link: https://www.econbiz.de/10013078525

Government Spending Shocks and the Multiplier : New Evidence from the U.S. Based on Natural Disasters

Yang, Weonho - 2012

The literature on estimating macroeconomic effects of fiscal policy requires suitable instruments to identify exogenous and unanticipated spending shocks. So far, the instrument of choice has been military build-ups. This instrument, however, largely limits the analysis to the US as few other...

Persistent link: https://www.econbiz.de/10013097432

Capital Accumulation and Employment Cycles in a Model of Creative Destruction

Palokangas, Tapio - CESifo - 2003

subject to cycles in which capital, output and employment vary in fixed proportion. These increase through saving and capital …

Persistent link: https://www.econbiz.de/10005405864

Persistence and Cycles in US Hours Worked

Caporale, Guglielmo Maria; Gil-Alana, Luis A. - CESifo - 2012

This paper analyses monthly hours worked in the US over the sample period 1939m1 – 2011m10 using a cyclical long memory model; this is based on Gegenbauer processes and characterised by autocorrelations decaying to zero cyclically and at a hyperbolic rate along with a spectral density that is...

Persistent link: https://www.econbiz.de/10010877961

Does the Euro-zone Diverge? A Stress Indicator for Analyzing Trends and Cycles in Real GDP and Inflation

Flaig, Gebhard; Wollmershäuser, Timo - CESifo - 2007

This paper presents a stress indicator for the Euro-zone that summarizes developments of trends and cycles in real GDP …

Persistent link: https://www.econbiz.de/10005094297

Modelling Long-Run Trends and Cycles in Financial Time Series Data

Caporale, Guglielmo Maria; Cunado, Juncal; Gil-Alana, … - CESifo - 2008

This paper proposes a very general time series framework to capture the long-run behaviour of financial series. The suggested model includes linear and non-linear time trends, and stationary and nonstationary processes based on integer and/or fractional degrees of differentiation. Moreover, the...

Persistent link: https://www.econbiz.de/10005181402