Belke, Ansgar; Goemans, Pascal - 2019 - First draft: December 18, 2018, this draft: September 8, 2019
We investigate whether the macroeconomic effects of government spending shocks vary with the level of uncertainty … and consumer confidence play an important role in explaining the non-linear impact of government spending. In contrast to … other types of government spending, research and development expenditures reduce uncertainty and have an expansionary effect …