Measuring the Output Responses to Fiscal Policy
Dados Bibliográficos
| ID | 23319692 |
|---|---|
| Autores | Alan J Auerbach (National Bureau of Economic Research), Yuriy Gorodnichenko (0000-0002-3639-4254, National Bureau of Economic Research) |
| Ano | 2012 |
| Volume | 4 |
| Fascículo | 2 |
| Páginas | 1-27 |
| Data de publicação | 2012-05-01 |
| Peer Reviewed | Sim |
| Open Access | Não |
| Tipo | ARTICLE |
| Periódico | American Economic Journal Economic Policy (JOURNAL) |
| Identificadores do periódico | ISSN: 1945-7731 • E-ISSN: 1945-774X |
| Editora | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/pol.4.2.1 |
| OpenAlex | W3121786260 |
| Idioma | EN |
| Citações recebidas | 152 |
| Referências citadas | 20 |
A key issue in current research and policy is the size of fiscal multipliers when the economy is in recession. We provide three insights. First, using regime-switching models, we find large differences in the size of spending multipliers in recessions and expansions with fiscal policy being considerably more effective in recessions than in expansions. Second, we estimate multipliers for more disaggregate spending variables which behave differently relative to aggregate fiscal policy shocks, with military spending having the largest multiplier. Third, we show that controlling for predictable components of fiscal shocks tends to increase the size of the multipliers in recessions. (JEL C32, E62, H20, H62, H63)
Aggregate (composite) · Aggregate demand · Business cycle · Econometrics · Economics · Fiscal multiplier · Fiscal policy · Government spending · Macroeconomics · Monetary economics · Monetary policy · Multiplier (economics) · Recession · Welfare · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
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| Obras citantes distintas | 152 |
|---|---|
| Citações por ano | 9,5 |
| Intervalo de citações | 2010 - 2026 (17) |
| Velocidade de citação | current |
| Altamente citado | Sim |
| Tipos de citação | Neutras: 125 |