Local fiscal multipliers of different government spending categories

Autor:	Thomas van Gemert, Lenard Lieb, Tania Treibich
Přispěvatelé:	Macro, International & Labour Economics, RS: GSBE Studio Europa Maastricht, RS: GSBE Theme Data-Driven Decision-Making, RS: GSBE MORSE, RS: GSBE other - not theme-related research
Jazyk:	angličtina
Rok vydání:	2022
Předmět:	Statistics and Probability Economics and Econometrics Government spending MODELS PURCHASES POLICY FEDERAL-GRANTS AMERICAN RECOVERY Mathematics (miscellaneous) BOOTSTRAP ORIGINS CROWD-OUT INFERENCE Local fiscal multiplier Social Sciences (miscellaneous) Fiscal policy
Zdroj:	Empirical Economics. Springer
ISSN:	0377-7332
Popis:	This paper compares multipliers of different categories of US federal government spending, and in doing so provides a new insight as to why fiscal multipliers may differ across countries and time. We identify exogenous federal government spending shocks at the state level for defense and non-defense spending. Using a projection-based approach, we estimate the cumulative multiplier due to shocks in either of these spending categories. Our results indicate that defense spending yields lower multipliers than non-defense spending. Thus, focusing only on defense spending may result in underestimating the multiplier for government spending.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::62370aa24a56cd65693efcde1009be72 https://doi.org/10.1007/s00181-022-02217-5 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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