, the expenditure associated with military build-ups affects primarily the defense sector so that the resulting multiplier … powerful instrument for identifying government spending shocks. Furthermore, we show that the multiplier pertaining to non …-defense government spending is higher than the defense-spending multiplier estimated in the literature using military build-ups. …

, the expenditure associated with military build-ups affects primarily the defense sector so that the resulting multiplier … powerful instrument for identifying government spending shocks. Furthermore, we show that the multiplier pertaining to non …-defense government spending is higher than the defense-spending multiplier estimated in the literature using military build-ups. …

the generality of this result w.r.t. size and persistence of the shock, size of the government spending multiplier, and …

The output multiplier turns negative before a deficit spending program expires. We show the generality of this … impact multiplier, and the scale and duration of the stimulus program. We also show that results are quantitatively very …