theory (Myers 1977). We also find that the effect of public investment on corporate investment is much weaker for firms that …

consumption and the government spending multiplier, given that consumption and labor are somewhat complementary. -- Trend growth … ; price and wage staggering ; government spending multiplier …

a Markov switching process. We find that the average government spending multiplier is significantly and persistently … inversely to their error variance. We then show that the multiplier is significantly smaller when volatility is high, consistent …

between multiplier size and the import share. Employing an interacted panel VAR model for EU countries, we estimate the effect …

We argue that the fiscal multiplier of government purchases is increasing in the spending shock, in contrast to what is … assumed in most of the literature. The fiscal multiplier is largest for large positive government spending shocks and smallest …

during certain points in the business cycle. Evidence of state dependence in the multiplier depends critically on how the … business cycle is defined. Estimates of the fiscal multiplier do not change when the unemployment rate is above or below its … trend. However, we find that the multiplier is higher when the unemployment rate is increasing relative to when it is …