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Does government spending crowd in private consumption? Theory and empirical evidence for the euro area

Coenen, Günter; Straub, Roland - 2005

In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non-Ricardian households is in general...

Persistent link: https://www.econbiz.de/10011604559

Consumption and Keynesian fiscal policy

Schclarek, Alfredo - 2004

This paper empirically studies the effects of fiscal policy shocks on private consumption. Further, it tries to determine if the level of government bond yield and the unemployment rate affect that relationship. We use yearly data between 1970 and 2000 for thirty-eight countries, of which half...

Persistent link: https://www.econbiz.de/10010261064

What accounts for the changes in U.S. fiscal policy transmission?

Bilbiie, Florin O.; Meier, André; Müller, Gernot J. - 2006

Using vector autoregressions on U.S. time series for 1957-1979 and 1983-2004, we find government spending shocks to have stronger effects on output, consumption, and wages in the earlier sample. We try to account for this observation within a DSGE model featuring price rigidities and limited...

Persistent link: https://www.econbiz.de/10011604628

Fiscal policy in a growth framework

Gemmell, Norman - 2001

and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low … advances in endogenous growth theory have demonstrated that fiscal policy can have long-run effects on economic growth rates … unlikely to hold in low-income countries. Recent theory particularly stresses the importance for growth of the following. The …

Persistent link: https://www.econbiz.de/10010279253

What are the effects of fiscal policy shocks? A VAR-based comparative analysis

Caldara, Dario; Kamps, Christophe - 2008

The empirical literature using vector autoregressive models to assess the effects of fiscal policy shocks strongly disagrees on even the qualitative response of key macroeconomic variables to government spending and tax shocks. We provide new evidence for the U.S. over the period 1955-2006. We...

Persistent link: https://www.econbiz.de/10011604923

Trend growth and the dynamic effects of government spending

Tesfaselassie, Mewael F. - 2011

The paper studies the macroeconomic effects of government spending shocks in an economy characterized by positive trend growth. It shows that the lower is the trend growth rate the less inflationary are government spending shocks and vice versa. Moreover, on impact output is higher but exhibits...

Persistent link: https://www.econbiz.de/10010278023

Essays in macroeconomics: Expectations, house prices, and inflation

Jørgensen, Peter Lihn - 2018

Persistent link: https://www.econbiz.de/10012503188

Productive Government Expenditure and Economic Growth

Irmen, Andreas; Kühnel, Johanna - 2008

We provide a comprehensive survey of the recent literature on the link between productive government expenditure and economic growth. Starting with the seminal paper of Robert Barro (1990) we show that an understanding of the core results of the ensuing contributions can be gained from the study...

Persistent link: https://www.econbiz.de/10011422176

Optimal fiscal policy over the business cycle

Occhino, Filippo - 2005

How should taxes, government expenditures, the primary and fiscal surpluses and government liabilities be set over the business cycle? We assume that the government chooses expenditures and taxes to maximize the utility of a representative household, utility is increasing in government...

Persistent link: https://www.econbiz.de/10010263265

Productive government expenditure and economic growth

Irmen, Andreas; Kuehnel, Johanna - 2008

Persistent link: https://www.econbiz.de/10010264372

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