Solving for Temporary Government Spending Shocks
Confidence and the Transmission of Government Spending Shocks
... policy shocks into economic ...with government spending and aggregate output augmented to include empirical measures of consumer or business ...of government spending in "normal'' times ...
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Explaining the Effects of Government Spending Shocks
... the government only relies on lump-sum taxes. The government spending shock therefore leads to a negative wealth effect since households face higher ...
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House Prices and Government Spending Shocks
... a government spending ...ment spending shocks on US house ...of shocks, our findings are still consistent with ...to government spending ...
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Government spending shocks and labor productivity
... for in the previous models, the estimates shown in figure 5 give a cleaner indication of the consequences of a government spending shock. Most clearly visible, the response of utilization now appears rather ...
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Explaining the Effects of Government Spending Shocks
... of government spending ...of government consumption is assumed to represent 20 percent of value added, which is the mean value of the observed government share in our ...of government ...
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Government spending shocks in open economy VARs
... and the surprise shock (lower panel) on FEDGOV over the unusually long horizon of 20 years. The result is striking. For both shocks, the impulse response functions have the shape of a long-run sine wave with a ...
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Government spending shocks, wealth effects and distortionary taxes
... Abstract This paper investigates the transmission mechanism of government spending shocks in an estimated dynamic general equilibrium model. I construct a New Keynesian model with dis- tortionary ...
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Government Spending Shocks and Private Activity: The Role of Sentiments
... …scal shocks are actually materialized, consumers respond to it by buying more nondurable goods instead of durable goods because they view increases in income as ...…scal spending are anticipated in the ...
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A disaggregated approach to the government spending shocks: an theoretical analysis
... in government spending creates a negative wealth effect for the households as they anticipate an increase in taxes to finance the increase of government ...
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Sectoral shocks, reallocation frictions, and optimal government spending
... of government spending also di¤er across eco- ...of government investment in infra- structure remains high for a much longer period of time (12 ...of government expendit- ure in the two ...
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Government spending shocks, wealth effects and distortionary taxes
... Abstract This paper investigates the transmission mechanism of government spending shocks in an estimated dynamic general equilibrium model. I construct a New Keynesian model with dis- tortionary ...
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Government spending shocks, wealth effects and distortionary taxes
... the spending shock, their magnitudes are ...the spending increase is important in explaining the expansionary effects, although these expansionary effects do not depend on the wealth effect channel, but ...
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Government Spending Shocks and Private Activity: The Role of Sentiments
... We are not the …rst who discussed the interaction between consumer sentiment and economic activity. Hall (1993) and Blanchard (1993), for example, underline the causal e¤ects of animal spirit on economic activity in ...
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Using Stock Returns to Identify Government Spending Shocks
... military spending and three measures of defense industry ...identify government spending shocks ...military spending, but Guns and Guns+ sales do less ...and spending is ...
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The Effects of Government Spending Shocks on Consumption under Optimal Stabilization
... output. Two properties need to be highlighted here. First, the optimal behaviour of private consumption and output is non-stationary in an environment with nominal rigidity. This is in line with the observations made in ...
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Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
... in government consumption is associated with an increase in domestic prices leading to an appreciation of the real exchange ...between government consumption and the real exchange ...and government ...
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Comparison of the stabilising effects of government spending shocks in the Czech Republic, Hungary and Poland
... The robustness checks of our analysis were provided by changing the frameworks of the system. At first, the different tax measures were employed through disaggregating the tax data. First, taxes on income and wealth were ...
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Government spending shocks and the multiplier: New evidence from the U.S. based on natural disasters
... nondefense spending and state/local ...nondefense spending. In this way, natural disasters cause government nondefense spending shocks which are more similar in their nature and scope ...
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The Impacts of Temporary and Anticipated Tourism Spending
... 19 build-up of investment prior to period 10, the large negative value for period 10 itself, and the subsequent disinvestment until the initial capital stock level is reached. The cumulative values are given in column 5 ...
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The Impacts of Temporary and Anticipated Tourism Spending.
... 19 build-up of investment prior to period 10, the large negative value for period 10 itself, and the subsequent disinvestment until the initial capital stock level is reached. The cumulative values are given in column 5 ...
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