Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2020
This paper provides evidence on the effect of fiscal stimulus on economic activity in countries with different degrees … of institutional quality. The identification strategy makes use of data on military expenditure to instrument government … consumption using local lineal projections as presented in Jordà (2005 ). Based on a panel of 113 countries during the period 1988 …