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The dynamics of public investment under persistent electoral advantage

Azzimonti, Marina - Federal Reserve Bank of Philadelphia - 2011

This paper studies the effects of asymmetries in re-election probabilities across parties on public policy and its … subsequent propagation to the economy. The struggle between opposing groups — that disagree on the composition of public … overspending on public goods arise, as resources are more valuable when in power. Because the party enjoying an electoral advantage …

Persistent link: https://www.econbiz.de/10009146816

Improving GDP measurement: a forecast combination perspective

Aruoba, S. Boragan; Diebold, Francis X.; Nalewaik, Jeremy; … - Federal Reserve Bank of Philadelphia - 2011

Two often-divergent U.S. GDP estimates are available, a widely-used expenditure-side version GDPE, and a much less widely-used income-side version GDI . The authors propose and explore a "forecast combination" approach to combining them. They then put the theory to work, producing a superior...

Persistent link: https://www.econbiz.de/10009320691

Improving GDP measurement: a measurement-error perspective

Aruoba, S. Boragan; Diebold, Francis X.; Nalewaik, Jeremy; … - Federal Reserve Bank of Philadelphia - 2013

We provide a new and superior measure of U.S. GDP, obtained by applying optimal signal-extraction techniques to the (noisy) expenditure-side and income-side estimates. Its properties -- particularly as regards serial correlation -- differ markedly from those of the standard expenditure-side...

Persistent link: https://www.econbiz.de/10010652361

Intertemporal analysis of state and local government spending: theory and tests

Holtz-Eakin, Douglas; Rosen, Harvey S. - Federal Reserve Bank of Philadelphia - 1989

Persistent link: https://www.econbiz.de/10005512322

The importance of the tax system in determining the marginal cost of funds

Ahmed, Shaghil; Croushore, Dean - Federal Reserve Bank of Philadelphia - 1994

Persistent link: https://www.econbiz.de/10005387462

The marginal cost of funds with nonseparable public spending

Ahmed, Shaghil; Croushore, Dean - Federal Reserve Bank of Philadelphia - 1994

Persistent link: https://www.econbiz.de/10005387505

The importance of the tax system in determining the marginal cost of funds

Croushore, Dean; Ahmed, Shaghil - Federal Reserve Bank of Philadelphia - 1992

Persistent link: https://www.econbiz.de/10005389661

The welfare effects of distortionary taxation and government spending: some new results

Ahmed, Shaghil; Croushore, Dean D. - Federal Reserve Bank of Philadelphia - 1990

Persistent link: https://www.econbiz.de/10005717382

The marginal cost of funds with nonseparable public spending

Ahmed, Shaghil; Croushore, Dean - Federal Reserve Bank of Philadelphia - 1992

Persistent link: https://www.econbiz.de/10005717423

Macroeconomic dynamics near the ZLB: a tale of two equilibria

Aruoba, S. Boragan; Schorfheide, Frank - Federal Reserve Bank of Philadelphia - 2013

This paper studies the dynamics of a New Keynesian dynamic stochastic general equilibrium (DSGE) model near the zero lower bound (ZLB) on nominal interest rates. In addition to the standard targeted-inflation equilibrium, we consider a deflation equilibrium as well as a Markov sunspot...

Persistent link: https://www.econbiz.de/10010681653