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Understanding the Effects of a Shock to Government Purchases Author info | Abstract | Publisher info | Download info | Related research | Statistics Wendy Edelberg
Martin Eichenbaum
Jonas D.M. Fisher
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This paper investigates the consequences of an exogenous increase in U.S. government purchases. We find that in response to such a shock, employment, output, and nonresidential investment rise, while real wages, residential investment, and consumption expenditures fall. The paper argues that a simple variant of the neoclassical model which distinguishes between nonresidential and residential investment is consistent with this evidence.
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number
6737.
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Date of creation: Sep 1998Date of revision:
Handle: RePEc:nbr:nberwo:6737Note: EFGContact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A. Phone: 617-868-3900 Email: Web page: http://www.nber.org More information through EDIRC
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Quantitative Macroeconomics and Real Business Cycles (QM&RBC)
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Greenwood, J. & Hercowitz, Z., 1991.
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Other versions:
S. Rao Aiyagari & Lawrence J. Christiano & Martin Eichenbaum, 1990.
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[Downloadable!] S. Rao Aiyagari & Lawrence J. Christiano & Martin Eichenbaum, 1990.
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"Relative prices, complementarities and comovement among components of aggregate expenditures ,"
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Valerie A. Ramey & Matthew D. Shapiro, 1999.
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Other versions: Olivier Blanchard & Roberto Perotti, 2002.
"An Empirical Characterization Of The Dynamic Effects Of Changes In Government Spending And Taxes On Output ,"
The Quarterly Journal of Economics ,
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Other versions: Casey B. Mulligan, .
"Pecuniary and Nonpecuniary Incentives to Work in the U.S. During World War II ,"
University of Chicago - Population Research Center
95-3, Chicago - Population Research Center.
Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1998.
"Modeling Money ,"
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Other versions: Burnside, Craig & Eichenbaum, Martin, 1996.
"Factor-Hoarding and the Propagation of Business-Cycle Shocks ,"
American Economic Review ,
American Economic Association, vol. 86(5), pages 1154-74, December.
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Other versions: Lawrence J. Christiano & Martin Eichenbaum, 1990.
"Current real business cycle theories and aggregate labor market fluctuations ,"
Discussion Paper / Institute for Empirical Macroeconomics
24, Federal Reserve Bank of Minneapolis.
[Downloadable!]
Other versions:
Lawrence J. Christiano & Martin Eichenbaum, 1990.
"Current real business cycle theories and aggregate labor market fluctuations ,"
Working Paper Series, Macroeconomic Issues
90, Federal Reserve Bank of Chicago.
Christiano, Lawrence J & Eichenbaum, Martin, 1992.
"Current Real-Business-Cycle Theories and Aggregate Labor-Market Fluctuations ,"
American Economic Review ,
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[Downloadable!] (restricted) Rotemberg, Julio J & Woodford, Michael, 1992.
"Oligopolistic Pricing and the Effects of Aggregate Demand on Economic Activity ,"
Journal of Political Economy ,
University of Chicago Press, vol. 100(6), pages 1153-1207, December.
[Downloadable!] (restricted)
Other versions: Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1997.
"Monetary policy shocks: what have we learned and to what end? ,"
Working Paper Series, Macroeconomic Issues
WP-97-18, Federal Reserve Bank of Chicago.
Other versions:
Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1998.
"Monetary Policy Shocks: What Have We Learned and to What End? ,"
NBER Working Papers
6400, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Christiano, Lawrence J. & Eichenbaum, Martin & Evans, Charles L., 1999.
"Monetary policy shocks: What have we learned and to what end? ,"
Handbook of Macroeconomics ,
in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 2, pages 65-148
Elsevier.
[Downloadable!] (restricted)
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