Using VAR analysis on US data, we show that unanticipated fiscal expansions boost private consumption and business … crowding-in of both consumption and entry can be generated only under very specific assumptions. In a static model with full … such that future profits are high enough to generate entry. However, consumption falls for conventional parameter values …

We empirically assess whether a usually expected negative response of private consumption and private investment to a … HP-based; and iii) the Hamilton (2018)-based. We find that: i) increases in government consumption have a Keynesian … effect on real per capita private consumption; ii) there is a positive effect of tax increases on private consumption when …

We review early evidence on how household consumption behavior has evolved over the pandemic and how different groups …

the assumption of non-separability between public and private consumption, obtain a large public consumption multiplier, a …

propose a decomposition of consumption that extends the Slutsky equation to a general equilibrium setting. Wealth effects, and … their amplification in general equilibrium, explain a large fraction of the consumption and inflation response to changes in …