Government Spending Multipliers in Good Times and in Bad
Evidence from US Historical Data
Dados Bibliográficos
| ID | 10172839 |
|---|---|
| Autores | Valerie A Ramey, Valerie Ramey (University of California San Diego), Sarah Zubairy (0000-0002-5452-0250, Mitchell Institute) |
| Ano | 2017 |
| Volume | 126 |
| Fascículo | 2 |
| Páginas | 850-901 |
| Data de publicação | 2017-12-05 |
| Peer Reviewed | Sim |
| Open Access | Não |
| Tipo | ARTICLE |
| Periódico | Journal of Political Economy (JOURNAL) |
| Identificadores do periódico | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Editora | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/696277 |
| OpenAlex | W1905678139 |
| Idioma | EN |
| Citações recebidas | 131 |
| Referências citadas | 42 |
We investigate whether US government spending multipliers are higher during periods of economic slack or when interest rates are near the zero lower bound. Using new quarterly historical US data covering multiple large wars and deep recessions, we estimate multipliers that are below unity irrespective of the amount of slack in the economy. These results are robust to two leading identification schemes, two different estimation methodologies, and many alternative specifications. In contrast, the results are more mixed for the zero lower bound state, with a few specifications implying multipliers as high as 1.5
Algorithm · Contrast (vision · Econometrics · Economics · Government (linguistics · Government spending · Great recession · Identification (biology · Interest rate · Keynesian economics · Macroeconomics · Mathematical economics · Recession · State (computer science · Upper and lower bounds · Welfare · Zero (linguistics · Zero lower bound · Computer Science · Economic Policies and Impacts · Fiscal Policies and Political Economy · Mathematics · Monetary Policy and Economic Impact
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| Obras citantes distintas | 131 |
|---|---|
| Citações por ano | 16,38 |
| Intervalo de citações | 2018 - 2026 (9) |
| Velocidade de citação | current |
| Altamente citado | Sim |
| Tipos de citação | Neutras: 131 |