We estimate the fiscal (spending) multiplier using quarterly U.S. data, 1986-2017. We define government spending shocks as actual minus expected expenditure growth, the latter obtained from the Survey of Professional Forecasters. We employ the ST-VAR model with the local projections method. A...

We estimate the fiscal (spending) multiplier using quarterly U.S. data, 1986-2017. We define government spending shocks as actual minus expected expenditure growth, the latter obtained from the Survey of Professional Forecasters. We employ the ST-VAR model with the local projections method. A...

1: “Introduction” -- 2: “International Migration in A Growing World Economy: A Simple Analytical Framework” -- 3: “Saving-Investment Cointegration Revisited: Implications for Capital Mobility, External Solvency and the Intertemporal Approach” -- 4: “Is the Feldstein-Horioka Puzzle...