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Output response to government spending : evidence from new international military spending data
Sheremirov, Viacheslav; Spirovska, Sandra - 2015 - This version: July 2015
effect of government spending on output. Following a popular assumption that military spending is unlikely to respond to … output at business-cycle frequencies - and exploiting variation in military spending of a significantly larger magnitude than … economies and in countries with a fixed exchange rate. The output response to government spending persists for about two to …
Persistent link: https://www.econbiz.de/10011305775
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Fiscal multipliers in advanced and developing countries : evidence from military spending
Sheremirov, Viacheslav; Spirovska, Sandra - 2019 - This version: February 2019
the effects of government spending on output in advanced and developing countries. Identifying government-spending shocks …
Persistent link: https://www.econbiz.de/10011992297
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Local and Aggregate Fiscal Policy Multipliers
Dupor, Bill - 2019
In this paper, we estimate the effect of defense spending on the U.S. macroeconomy since World War II. First, we construct a new panel dataset of state-level federal defense contracts. Second, we sum observations across states and, using the resulting time series, estimate the aggregate effect...
Persistent link: https://www.econbiz.de/10012903455
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Fiscal Multipliers in Advanced and Developing Countries : Evidence from Military Spending
Sheremirov, Viacheslav - 2019
the effects of government spending on output in advanced and developing countries. Identifying government-spending shocks …-9, circulated under the title 'Output Response to Government Spending: Evidence from New International Military Spending Data.' …
Persistent link: https://www.econbiz.de/10012888988
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Government Policy Response to War-Expenditure Shocks
Martin, Fernando M. - 2012
Persistent link: https://www.econbiz.de/10013107789
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Is a very high public debt a problem?
Leão, Pedro - 2015
This paper has two main objectives. The first is to propose a policy architecture that can prevent a very high public debt from resulting in a high tax burden, a government default, or inflation. The second objective is to show that government deficits do not face a financing problem. After...
Persistent link: https://www.econbiz.de/10011309513
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Economic policy in India : for economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
such policies pose constraints on the recovery of output and employment, with adverse impacts on income distribution; but …
Persistent link: https://www.econbiz.de/10010385761
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Dissolving „the unholy marriage“ : Hayek‘s recommendation on monetary and fiscal policy
Madi, Maria Alejandra Caporale - In: Journal of contemporary economic and business issues 2 (2015) 2, pp. 23-38
The contribution by the Austrian economist Friedrich von Hayek to monetary theory stimulates a far-reaching debate on the role of the government in monetary management and the effects of alternative policies in regulating the issuance of money. Since the early 1930s Hayek had been concerned...
Persistent link: https://www.econbiz.de/10011534016
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Fiscal and monetary policy rules in an unstable economy
Ryoo, Soon; Skott, Peter - 2015
This paper examines the implications of different monetary and fiscal policy rules in an economy characterized by Harrodian instability. We show that (i) a monetary rule along Taylor lines can be stabilizing for low debt ratios but becomes de-stabilizing if the debt ratio exceeds a certain...
Persistent link: https://www.econbiz.de/10011522169
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Banking, finance, and money : a socioeconomics approach
Wray, L. Randall (contributor) - 2006
This paper briefly summarizes the orthodox approach to banking, finance, and money, and then points the way toward an alternative based on socioeconomics. It argues that the alternative approach is better fitted to not only the historical record, but also sheds more light on the nature of money...
Persistent link: https://www.econbiz.de/10003720491