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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
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/10011654641
In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with...
Persistent link: https://www.econbiz.de/10012705410
The recent Financial Crisis reminded us once again about the vulnerability of the global economy. Economists were forced to think about the effectiveness of their policies. During this period, many governments across the world had adopted fiscal measures to boost their local economies. The path...
Persistent link: https://www.econbiz.de/10013103242
We estimate the effect of government spending shocks on the US economy with a time-varying parameter vector autoregression. The recent Great Recession period appears to be characterized by uniquely large impulse responses of output to fiscal shocks. Moreover, the particularity of this period is...
Persistent link: https://www.econbiz.de/10012912155
The paper attempts to do a comprehensive analysis on how spending patterns were affected by the most severe economic crisis since the oil shocks in the 70's. We have attempted to see which services have been significantly affected by the crisis, and whether social spending has risen and managed...
Persistent link: https://www.econbiz.de/10012931245
Persistent link: https://www.econbiz.de/10011401336
autorregressive model with stochastic volatility (TVPSV-VAR). First, I find that there is significant evidence that the multiplier has … multiplier is bigger during a recession even if we consider different components of government spending. Second, I show that …
Persistent link: https://www.econbiz.de/10013060330
Persistent link: https://www.econbiz.de/10009766277
Persistent link: https://www.econbiz.de/10009690432