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The government spending multiplier at the zero lower bound : evidence from the United States

Di Serio, Mario; Fragetta, Matteo; Gasteiger, Emanuel - 2020

We estimate state-dependent government spending multipliers for the United States. We use a Factor-Augmented Interacted Vector Autoregression (FAIVAR) model. This allows us to capture the time-varying monetary policy characteristics including the recent zero interest rate lower bound (ZLB)...

Persistent link: https://www.econbiz.de/10012209159

Consumption and hours between the United States and France

Fang, Lei; Yang, Fang - 2021

We document large differences between the United States and France in allocations of consumption expenditures and time by age. Using a life-cycle model, we quantify to what extent tax and transfer programs and market and home productivity can account for the differences. We find that while labor...

Persistent link: https://www.econbiz.de/10012425267

Fiscal stimulus and distortionary taxation

Drautzburg, Thorsten; Uhlig, Harald - 2011 - This revision: May 30, 2011

-run multipliers around 0.52 and modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of …. -- Fiscal Stimulus ; New Keynesian model ; liquidity trap ; zero lower bound ; fiscal multiplier … modestly negative long-run multipliers around -0.42. The multiplier is sensitive to the fraction of transfers given to credit …

Persistent link: https://www.econbiz.de/10009129765

Reassessing the cross-sectional fiscal multiplier : evidence from U.S. defense procurement, 1966-2019

Pallante, Gianluca - 2025

This paper revisits the empirical analysis of Nakamura and Steinsson (2014). I reconstruct and extend the original dataset to cover the period 1966-2019, harmonizing two major sources of data: the Defense Contract Action Data System (DCADS) and USAspending.gov. I discuss how to aggregate these...

Persistent link: https://www.econbiz.de/10015396022

Partisanship and Fiscal Policy in Economic Unions : Evidence from U.S. States

Carlino, Gerald A.; Drautzburg, Thorsten; Inman, Robert P. - 2020

times increases the transfer multiplier by 0.30. The observed changes in the share of Republican governors lead to variation … in the multiplier of 0.20 in the model. Local projection methods support this prediction …

Persistent link: https://www.econbiz.de/10014048858

Identifying the Effects of Government Spending Shocks with and without Expected Reversal : An Approach Based on U.S. Real-Time Data

Cimadomo, Jacopo - 2011

This paper investigates how expectations about future government spending affect the transmission of fiscal policy shocks. We study the effects of two different types of government spending shocks in the United States: (i) spending shocks that are accompanied by an expected reversal of public...

Persistent link: https://www.econbiz.de/10013122883

New Keynesian versus old Keynesian government spending multipliers

Cogan, John F.; Cwik, Tobias; Taylor, John B. - 2009

estimated stimulus is extremely small with GDP and employment effects only onesixth as large. -- Fiscal multiplier ; New …

Persistent link: https://www.econbiz.de/10003963764

Identifying the effects of government spending shocks with and without expected reversal : an approach based on U.S. real-time data

Cimadomo, Jacopo; Hauptmeier, Sebastian; Sola, Sergio - 2011

Persistent link: https://www.econbiz.de/10009238019

Identifying the effects of government spending shocks with and without expected reversal : an approach based on U.S. real-time data

Cimadomo, Jacopo; Hauptmeier, Sebastian; Sola, Sergio - 2011

Persistent link: https://www.econbiz.de/10009238567

Government spending shocks and the multiplier : new evidence from the US based on natural disasters

Yang, Weonho; Fidrmuc, Jan; Ghosh, Sugata - 2012

, the expenditure associated with military build-ups affects primarily the defense sector so that the resulting multiplier … powerful instrument for identifying government spending shocks. Furthermore, we show that the multiplier pertaining to non …-defense government spending is higher than the defense-spending multiplier estimated in the literature using military build …

Persistent link: https://www.econbiz.de/10009683406