If there was any time to expect a large peace-time multiplier effect from federal spending in the states, it would have …. Using panel data methods we estimate a multiplier, defined as the change in per capita state economic activity in response … to an additional dollar per capita of federal funds. The state per capita personal income multiplier with respect to per …

countries, (ii) the fiscal multiplier is relatively large in economies operating under predetermined exchange rates but is zero …

substitution effects, yielding uniform comparisons across models. By constraining the multiplier to tight ranges, model and prior …

We argue that the government-spending multiplier can be much larger than one when the zero lower bound on the nominal … larger is the value of the multiplier. After providing intuition for these results, we investigate the size of the multiplier … in a dynamic, stochastic, general equilibrium model. In this model the multiplier effect is substantially larger than one …

. With allowance for other factors holding back GDP growth during those wars, the multiplier linking government purchases to … as well. On the other hand, neoclassical models have a much lower multiplier, because they predict that consumption falls … when purchases rise. The key features of a model that delivers a higher multiplier are (1) the decline in the markup ratio …

A geographic cross-sectional fiscal spending multiplier measures the effect of an increase in spending in one region in … Reinvestment Act and a survey of empirical studies, my preferred point estimate for a cross-sectional output multiplier is 1 ….8. Economic theory of how to map these multipliers into a national multiplier has also advanced. Drawing on the theoretical …

We measure the size of the fiscal multiplier using a heterogeneous-agent model with incomplete markets, capital and ….We find that market incompleteness is key to determining the size of the fiscal multiplier, which is uniquely determined in … our model for any combination of fiscal and monetary policies of interest. The multiplier is 1.34 if deficit-financed and …