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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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Fiscal multipliers in advanced and developing countries: Evidence from military spending
Sheremirov, Viacheslav; Spirovska, Sandra - 2019
the effects of government spending on output in advanced and developing countries. Identifying government-spending shocks …
Persistent link: https://www.econbiz.de/10012059606
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Output response to government spending: Evidence from new international military spending data
Sheremirov, Viacheslav; Spirovska, Sandra - 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/10011460696
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Identification of systematic monetary policy
Hack, Lukas; Istrefi, Klodiana; Meier, Matthias - 2023
We propose a novel identification design to estimate the causal effects of systematic monetary policy on the propagation of macroeconomic shocks. The design combines (i) a time-varying measure of systematic monetary policy based on the historical composition of hawks and doves in the Federal...
Persistent link: https://www.econbiz.de/10014543651
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Identification of systematic monetary policy
Hack, Lukas; Istrefi, Klodiana; Meier, Matthias - 2023
We propose a novel identification design to estimate the causal effects of systematic monetary policy on the propagation of macroeconomic shocks. The design combines (i) a time-varying measure of systematic monetary policy based on the historical composition of hawks and doves in the Federal...
Persistent link: https://www.econbiz.de/10014477697
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Keynesian Dominance in Crisis Therapy
Spantig, Kristina - 2013
This paper scrutinizes the debate of Keynes and Hayek concerning the adequate re- sponse to economic crises from a historical perspective. In a first step the develop- ment of the Keynesian economic theory, its ascent during the Great Depression and its use during financially sound times is...
Persistent link: https://www.econbiz.de/10010334501
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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/10011545303
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Banking, finance, and money: A socioeconomics approach
Wray, L. Randall - 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/10010266447
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Alternative uses of functional finance: Lerner, MMT and the Sraffiansh
Summa, Ricardo de Figueiredo - 2022
In the present paper, we will construct three comparable 'toy models' to evaluate the alternative uses of functional finance from Lerner, MMT, and the Sraffians. First, we will argue that the general functional finance framework can be separated from the specific views of Lerner on how the...
Persistent link: https://www.econbiz.de/10013163440