in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

in consumption in five key sectors: tourism, hospitality, services, retail, and public transports. We identify a large …-term sectoral consumption shifts may occur. …

We investigate the effects of government expenditure on private consumption when the private sector anticipates the … economic theory. Using post-WWII US data, we find that when taking into account anticipation, private consumption significantly … decreases in response to a defense expenditure shock, whereas when considering shocks to non-defense spending, consumption …

How does private consumption react to an exogenous increase in government expenditure? Standard structural vector … autoregressions (SVARs) usually report a positive GDP as well as consumption response, while event studies report a negative … consumption response. We investigate in a SVAR whether anticipation of the fiscal shock reverses the sign of this dynamic response …

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 …