We analyze the simple fiscal multiplier and extend it in terms of a credit-money framework and in terms of a time dimension, making it applicable to time series data. In order to take care of a credit-money framework, we complement the sources and uses of funds that are available along the...

We show that the large elasticity of substitution between capital and labor estimated in the literature on average, 0.9, can be explained by three factors: publication bias, use of aggregated data, and omission of the first-order condition for capital. The mean elasticity conditional on the...

Basándonos en el proceso de identificación bottom-up de Romer y Romer (2010), construimos una narrativa de shocks de ingresos netos para Alemania, extendiendo la narrativa por el lado de los impuestos elaborada por Hayo y Uhl (2014) y codificando dicha serie en contribuciones a la seguridad...