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Activist Fiscal Policy to Stabilize Economic Activity

Auerbach, Alan J. - 2010

evidence is not as "shovel ready" as one would like. Although consumption and investment clearly respond to tax incentives and …

Persistent link: https://www.econbiz.de/10013150639

Monetary and Fiscal Remedies for Deflation

Auerbach, Alan J. - 2011

alternative approach that has been suggested for use in a liquidity trap, a scheduled increase in consumption tax rates. We find … that such a policy could, indeed, increase short-run consumption, but would be less effective at increasing welfare or …

Persistent link: https://www.econbiz.de/10013133109

In Search of the Transmission Mechanism of Fiscal Policy

Perotti, Roberto - 2012

private consumption and the real wage will fall, while some neo-keyenesian models predict the opposite. This paper discusses …

Persistent link: https://www.econbiz.de/10013105847

Measuring the Output Responses to Fiscal Policy

Auerbach, Alan J. - 2010

A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using regime-switching models, we find large differences in the size of spending multipliers in recessions and expansions with fiscal policy being...

Persistent link: https://www.econbiz.de/10013138770

Output Spillovers from Fiscal Policy

Auerbach, Alan J. - 2012

In this paper, we estimate the cross-country spillover effects of government purchases on output for a large number of OECD countries. Following the methodology in Auerbach and Gorodnichenko (2012a, b), we allow these multipliers to vary smoothly according to the state of the economy and use...

Persistent link: https://www.econbiz.de/10013097270

Demographics, Fiscal Policy, and U.S. Saving in the 1980s and Beyond

Auerbach, Alan J. - 2010

This paper focuses on U.S. saving, demographics, and fiscal policy. We use data from the Consumer Expenditure Surveys of the 1980s to consider the effect of demographic change on past and future U.S. saving rates. Our findings indicate that demographic change may significantly alter the U.S....

Persistent link: https://www.econbiz.de/10012760152

Fiscal Policy, Wealth Effects, and Markups

Monacelli, Tommaso - 2009

We document that variations in government purchases generate a rise in consumption, the real and the product wage, and … effect is linked to the degree of complementarity between consumption and hours. We show that the model is able to match our … the positive wealth effect on labor supply is small and therefore the negative wealth effect on consumption is, somewhat …

Persistent link: https://www.econbiz.de/10012765568

Macroeconomic Frameworks

Auerbach, Alan J. - 2019

We link detailed data on defense spending, wages, hours, employment, establishments, and GDP across U.S. cities to study the effects of fiscal stimulus. Our small-open-economy empirical setting permits us to estimate key macroeconomic outcomes and elasticities, including the responses of the...

Persistent link: https://www.econbiz.de/10012861210

Defense Government Spending is Contractionary, Civilian Government Spending is Expansionary

Perotti, Roberto - 2014

Impulse responses to government spending shocks in Standard Vector Autoregressions (SVARs) typically display "expansionary" features. However, SVARs can be subject to a "non-fundamentalness" problem. "Expectations - Augmented" VARs (EVARs), which use direct measures of forecasts of defense...

Persistent link: https://www.econbiz.de/10013053152

Fiscal Multipliers in Japan

Auerbach, Alan J. - 2014

In this paper, we estimate government purchase multipliers for Japan, following the approach used previously for a panel of OECD countries (Auerbach and Gorodnichenko, 2013). This approach allows multipliers to vary smoothly according to the state of the economy and uses real-time forecast data...

Persistent link: https://www.econbiz.de/10013058256