Economics and history both strive to understand causation: economics using instrumental variables econometrics and history by weighing the plausibility of alternative narratives. Instrumental variables can lose value with repeated use because of an econometric tragedy of the commons bias: each...

Valuation multipliers are frequently used in practice. By postulating a simple stochastic process for the firm's cash flows in which the drift and the variance of the process depend on the investment policy, we develop a stylized model that links the cash flow multiplier to the optimal...

In this paper, we estimate the aggregate and sectoral fiscal multipliers of EU Structural Investment (ESI) Funds and of public investment at the EU level. We complement these results with a specific application to the case of Slovenia. We first analyze aggregate data and find large and...

Sectors are the engines of economic growth in any economy making inter-sectoral linkages the most significant target for development practitioners and policymakers. This study examines and ascertains the magnitude of production and consumption inter-sectoral linkages in Uganda's economy....

Staatsausgaben und Steuereinnahmen verursachen nicht nur einen direkten Impuls, sondern lösen auch eine Multiplikatorwirkung aus. Die Erhöhung des Einkommens führt zu einer Ausweitung des privaten Konsums, somit zu einer weiteren Nachfrageerhöhung und einer abermaligen Produktionserhöhung...

"Einer der Ansatzpunkte der Kritik am offenen statischen Leontief-Modell ist die Vernachlässigung des Keynes'schen Multiplikators. Ihm wird durch die Darstellung de erweiterten InputOutput-Modells in einem ersten Schritt Rechnung getragen. Die Erweiterung des bisher verwendeten...

Cilj ovoga rada je procijeniti Modiglijanijevu funkciju potrošnje u gospodarstvu Hrvatske koja osim efekta raspoloživog dohotka inkorporira i efekt bogatstva na potrošnju. Procjena je napravljena na kvartalnim podacima na dostupnoj statističkoj građi za razdoblje nakon 1997. godine....