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Government spending: an economic boost?

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  • Daniel J. Wilson

Abstract

The severe global economic downturn and the large stimulus programs that governments in many countries adopted in response have generated a resurgence in research on the effects of fiscal policy. One key lesson emerging from this research is that there is no single fiscal multiplier that sums up the economic impact of fiscal policy. Rather, the impact varies widely depending on the specific fiscal policies put into effect and the overall economic environment.

Suggested Citation

  • Daniel J. Wilson, 2012. "Government spending: an economic boost?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue feb6.
  • Handle: RePEc:fip:fedfel:y:2012:i:feb6:n:2012-04
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    References listed on IDEAS

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    1. repec:nbr:nberch:13342 is not listed on IDEAS
    2. Diego Comin & Bart Hobijn, 2011. "Technology Diffusion and Postwar Growth," NBER Chapters,in: NBER Macroeconomics Annual 2010, Volume 25, pages 209-246 National Bureau of Economic Research, Inc.
    3. Alan J. Auerbach & Yuriy Gorodnichenko, 2012. "Measuring the Output Responses to Fiscal Policy," American Economic Journal: Economic Policy, American Economic Association, pages 1-27.
    4. Alan J. Auerbach & Yuriy Gorodnichenko, 2012. "Measuring the Output Responses to Fiscal Policy," American Economic Journal: Economic Policy, American Economic Association, pages 1-27.
    5. 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, Oxford University Press, pages 1329-1368.
    6. Emi Nakamura & J?n Steinsson, 2014. "Fiscal Stimulus in a Monetary Union: Evidence from US Regions," American Economic Review, American Economic Association, pages 753-792.
    7. Emi Nakamura & J?n Steinsson, 2014. "Fiscal Stimulus in a Monetary Union: Evidence from US Regions," American Economic Review, American Economic Association, pages 753-792.
    8. 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, Oxford University Press, pages 1329-1368.
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    Cited by:

    1. Bergin, Paul R. & Glick, Reuven & Wu, Jyh-Lin, 2014. "Mussa redux and conditional PPP," Journal of Monetary Economics, Elsevier, pages 101-114.

    More about this item

    Keywords

    Fiscal policy ; Government spending policy;

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