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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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Fiscal Spillovers in the Euro Area
Caporale, Guglielmo Maria - 2012
This paper analyses the dynamic effects of fiscal imbalances in a given EMU member state on the borrowing costs of other countries in the euro area. The estimation of a multivariate, multi-country time series model (specifically a Global VAR, or GVAR) using quarterly data for the EMU period...
Persistent link: https://www.econbiz.de/10013112600
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Government Size, Trade Openness, and Output Volatility : A Case of Fully Integrated Economics
Fujii, Eiji - 2015
Government is often considered the safe sector of an open economy that provides households with insurance against external risk exposure. Among highly integrated economies, however, households should be able to exploit common financial markets to insure themselves. In this paper we examine the...
Persistent link: https://www.econbiz.de/10013011795
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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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Revisiting the Narrative Approach of Estimating Tax Multipliers
Hebous, Shafik - 2014
A number of recent studies regress a “narratively” identified measure of a macroeconomic shock directly on an outcome variable. In this note, we argue that this approach can be viewed as the reduced-form regression of an instrumental variable approach in which the narrative time series is...
Persistent link: https://www.econbiz.de/10013044520
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The Multiplier Effect in Two-Sided Markets with Bilateral Investments
Dizdar, Deniz - 2018
investment behavior. The bilateral external benefits induce an investment multiplier effect. This multiplier effect depends in a … characterize how the multiplier effect hinges on market size, and how it interacts with other important factors such as the costs …
Persistent link: https://www.econbiz.de/10012927514