shock in the history of the United States. We take observed changes in fiscal policy during the war as inputs into a … fiscal shock"--Federal Reserve Bank of Minneapolis web site …

fiscal shocks. We test the theory using data from World War II, which is by far the largest fiscal shock in the history of … data. Our main finding is that the theory quantitatively accounts for macroeconomic activity during this big fiscal shock …

fiscal shocks. We test the theory using data from World War II, which is by far the largest fiscal shock in the history of … data. Our main finding is that the theory quantitatively accounts for macroeconomic activity during this big fiscal shock …

fiscal shocks. We test the theory using data from World War II, which is by far the largest fiscal shock in the history of … data. Our main finding is that the theory quantitatively accounts for macroeconomic activity during this big fiscal shock …

standard neoclassical growth model with US data and assume that an exogenous shock has driven aggregate output far below steady … the generality of this result w.r.t. size and persistence of the shock, size of the government spending multiplier, and …