, 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 …

We estimate the fiscal multiplier associated with shocks to government spending. We consider increases in government … is reflected in the value taken by the fiscal multiplier. This result is obtained when we identify fiscal shocks by the …

multipliers for the United States. With these results, it computes the cumulative multiplier of Ramey and Zubairy (2018), now … multiplier is much larger than the cumulative spending one. Hence, the conclusions depend on the definition of multiplier. This …

response of private consumption than in a model with perfect insurance. The output multiplier is further amplified through a …

The literature on the government spending multiplier has implicitly assumed that an increase in government spending has … approach, or (ii) a timing restriction, we find that the contractionary multiplier – the multiplier associated with a negative … multiplier – the multiplier associated with a positive shock – is substantially below 1 regardless of the state of the cycle …

is that the balanced budget multiplier for Paraguay i.e. the effect of on output of an increase in expenditures (in …