Factor supply increases (depresses) output for many of the same reasons that the government spending multiplier might …" and suggest that the government spending multiplier is less than one, even during the recession …

wages; in a fairly broad class of simple models, the multiplier is 1 in the case that the monetary authority maintains a … constant path for real interest rates. The multiplier can be considerably smaller, however, if the monetary authority raises … multiplier is especially plausible when monetary policy is constrained by the zero lower bound on nominal interest rates; in such …

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 …

government purchases multiplier. But equally crucial is the size of the government purchases multiplicand--the change in … government purchases of goods and services that the multiplier actually multiplies. Using new data from the Bureau of Economic … government purchases multiplier, changes in government purchases have had no material effect on the growth of GDP since the time …

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

in 1941, particularly in the second half of that year. As a result our preferred government spending multiplier is 1 ….80 multiplier is relevant to situations like 2009-10 when capacity constraints are absent across the economy.Two sets of new …

shocks, with military spending having the largest multiplier. Third, we show that controlling for predictable components of …