Estimates of the fiscal impact multiplier in reduced-form equations
An analysis of the multiplier for the US federal government's consumption expenditures is presented. A simple approach to identify the influence of the federal government's consumption expenditures on economic activity using reduced-form equations is clearly presented and examined using annual US data from 1929-2011. The conclusion from this analysis is that estimates from reduced-form equations can inform fiscal-policy decision making.
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- Valerie A. Ramey, 2011.
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Oxford University Press, vol. 126(1), pages 1-50.
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