We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government … is reflected in the value taken by the fiscal multiplier. This result is obtained when we identify fiscal shocks by the …

Most of the discussion about fiscal stimulus focuses on the multiplier of government spending on impact. In this paper … we shift the focus to the multiplier at the end, i.e. to the period in which a deficit spending program terminates. We … multiplier turns negative before spending expires. This means that aggregate output at the time of expiry of fiscal stimulus is …

The output multiplier turns negative before a deficit spending program expires. We show the generality of this … impact multiplier, and the scale and duration of the stimulus program. We also show that results are quantitatively very … stimulus expires. -- Fiscal stimulus ; government spending ; output multiplier ; economic recovery …

, the expenditure associated with military build-ups affects primarily the defense sector so that the resulting multiplier … powerful instrument for identifying government spending shocks. Furthermore, we show that the multiplier pertaining to non …-defense government spending is higher than the defense-spending multiplier estimated in the literature using military build …

The output multiplier turns negative before a deficit spending program expires. We show the generality of this … impact multiplier, and the scale and duration of the stimulus program. We also show that results are quantitatively very …

, the expenditure associated with military build-ups affects primarily the defense sector so that the resulting multiplier … powerful instrument for identifying government spending shocks. Furthermore, we show that the multiplier pertaining to non …-defense government spending is higher than the defense-spending multiplier estimated in the literature using military build-ups …

Most of the discussion about fiscal stimulus focuses on the multiplier of government spending on impact. In this paper … we shift the focus to the multiplier at the end, i.e. to the period in which a deficit spending program terminates. We … show that recent time series analyses as well as models of different schools of thought predict that the multiplier turns …

We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government … is reflected in the value taken by the fiscal multiplier. This result is obtained when we identify fiscal shocks by the …

the generality of this result w.r.t. size and persistence of the shock, size of the government spending multiplier, and …

output in Italy. The fiscal multiplier, which is maximized at the one year horizon, follows a U-shape over the sample …