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Evaluating Changes in the Transmission Mechanism of Government Spending Shocks /
We empirically revisit the crowding-in effect of government spending on private consumption based on rolling windows of U.S. data. Results show that in earlier samples government spending is increasingly crowding in private consumption; however, this relation is reverted in the latest periods. We pr...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2017.
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| Colección: | IMF working paper ;
WP/17/49. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover; Contents; 1 Introduction; 2 Empirical Investigation; 3 Theoretical Analysis; 3.1 Optimizing households; 3.2 Rule-of-thumb households; 3.3 Firms; 3.4 Government and monetary policy; 3.5 Aggregation; 3.6 Theoretical results and interpretation; 4 Estimated Model; 4.1 Estimation strategy; 4.2 Estimation results; 4.3 Time varying impulse-response functions; 4.4 Some counterfactual exercises; 4.5 Back to the BVAR estimation; 5 Conclusion; Appendices; A Estimation Results; List of Figures; 1 Output and Consumption Responses (Sample: 1950:I-2015:IV).