A literacy-targeted approach to economic instruction draws on insights from cognitive science. It highlights that students process complex economic information by constructing and modifying schemas that represent economic material. Following this approach, we developed a set of instructional...

This paper investigates how an increase in military expenditures affects an economy. It is written in the context of rising geopolitical tensions that have spurred increased military spending in the United States, Europe, and other economic areas. It draws on a large literature in...

We construct a narrative instrument for government investment from official records in Germany. Using structural vector autoregressions, we document a significant crowding-in of private investment and an output multiplier of roughly 2. Then, we match a New Keynesian dynamic stochastic general...

The transmission channels of stabilizing fiscal policy remain partially unexplored, which presents a challenge for the effective management of economic policy. Using a broad dataset and vector autoregression methodology, this paper examines the relationship between selected structural...

The European Union's Next Generation EU (NGEU) program and its implementation through the Recovery and Resilience Facility (RRF) were conceived with the premise of promoting a coordinated fiscal response within the European Union to address the challenges arising from the COVID-19 crisis. The...

What determines the effectiveness of military buildups? We introduce the concept of the military multiplier: the percentage increase in military equipment an additional dollar buys. It varies with the costs of allocating resources to military production, depending, among other things, on the...

The paper examines the macroeconomic effects of fiscal policy under varying economic conditions. The analysis is conducted using a closed-economy agent-based model, where macroeconomic outcomes of fiscal intervention emerge from the bottom up as the result of interactions between heterogeneous...