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The government spending multiplier at the zero lower bound : evidence from the United States
Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel - 2020
We estimate state-dependent government spending multipliers for the United States. We use a Factor-Augmented Interacted Vector Autoregression (FAIVAR) model. This allows us to capture the time-varying monetary policy characteristics including the recent zero interest rate lower bound (ZLB)...
Persistent link: https://www.econbiz.de/10012209159
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Using military build-ups to capture fiscal shocks : a reassessment
Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - 2014
Ramey (2011a) and others argue that increases in government spending associated with wars and military build-ups constitute a good instrument for measuring the macroeconomic effects of fiscal shocks. We argue that this instrument has two important drawbacks: the composition of government...
Persistent link: https://www.econbiz.de/10010256126
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Natural disasters, government spending, and the fiscal multiplier
Fidrmuc, Jan; Ghosh, Sugata; Yang, Weonho - 2015
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 …
Persistent link: https://www.econbiz.de/10011406560
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Cross-region transfers in a monetary union : evidence from the US and some implications
Pennings, Steven - 2020
tended to grow faster contemporaneously, with a multiplier of around 1.5 for permanent transfers and 1/3 for temporary …
Persistent link: https://www.econbiz.de/10012241154
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Konjunktur für den Klimaschutz? : Klima- und Wachstumswirkungen weltweiter Konjunkturprogramme
Klepper, Gernot; Peterson, Sonja; Petrick, Sebastian; … - 2009
Konjunkturpakets. Nach Schätzung zweier Berater von Präsident Obama liegt der Multiplikator für den Output deutlich über 1 und …- proportionaler Multiplikator (1,03), in den Jahren 2010 und 2011 sinkt der Multiplikator auf 0,61 bzw. 0,44. Diese Schätzung geht … Multiplikator- wirkung, sondern beinhaltet vor allem die Frage wie das langfristige Wirtschaftswachstum beein- flusst wird. Ein …
Persistent link: https://www.econbiz.de/10003839016
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New Keynesian versus old keynesian government spending multipliers
Cogan, John F.; Cwik, Tobias; Taylor, John B.; Wieland, … - 2009
Persistent link: https://www.econbiz.de/10003822988
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New Keynesian versus old Keynesian government spending multipliers
Cogan, John F.; Cwik, Tobias; Taylor, John B.; Wieland, … - 2009
estimated stimulus is extremely small with GDP and employment effects only one-sixth as large. -- Fiscal Multiplier ; New …
Persistent link: https://www.econbiz.de/10003887419
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Fiscal stimulus to the rescue? : short-run benefits and potential long-run costs of fiscal deficits
Freedman, Charles; Kumhof, Michael; Laxton, Douglas; … - 2009
Persistent link: https://www.econbiz.de/10003920470
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The end of the Great Depression 1939-41 : policy contributions and fiscal multipliers
Gordon, Robert J.; Krenn, Robert - 2010
Persistent link: https://www.econbiz.de/10008665194
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Global policy at the zero lower bound in a large-scale DSGE model
Gomes, Sandra; Jacquinot, Pascal; Mestre, Ricardo - 2010
The purpose of this paper is to analyse whether fiscal policies can alleviate the effects of the zero lower bound (ZLB) on interest rates and if they should be coordinated internationally. The analysis is carried out using EAGLE, a DSGE model of the global economy. We consider that the fiscal...
Persistent link: https://www.econbiz.de/10008688538