期刊
ECONOMIC JOURNAL
卷 125, 期 584, 页码 746-776出版社
OXFORD UNIV PRESS
DOI: 10.1111/ecoj.12263
关键词
-
类别
资金
- University of Melbourne
We estimate non-linear VARs to assess to what extent fiscal spending multipliers are countercyclical in the US. We deal with the issue of non-fundamentalness due to fiscal foresight by appealing to sums of revisions of expectations of fiscal expenditures. This measure of anticipated fiscal shocks is shown to carry valuable information about future dynamics of public spending. Results based on generalised impulse responses suggest that fiscal spending multipliers in recessions are greater than one, but not statistically larger than those in expansions. However, non-linearities arise when focusing on extreme' events, that is, deep recessions versus strong expansionary periods.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据