The effects of a government expenditures shock
Government expenditure shocks increase output and do not decrease consumption. We argue this is due to the behavior of the central bank. A basic RBC model is able to deliver this result as long as the central bank behaves as the empirical evidence suggests.
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| Date of creation: | 2005 |
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| Handle: | RePEc:ptu:wpaper:w200514 |
| Contact details of provider: | Postal: R. do Ouro, 27, 1100 LISBOA Phone: 21 321 32 00 Fax: 21 346 48 43 Web page: http://www.bportugal.pt Email: More information through EDIRC
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References listed on IDEAS
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- Mountford, A.W. & Uhlig, H.F.H.V.S., 2002.
"What are the Effects of Fiscal Policy Shocks?,"
Discussion Paper
2002-31, Tilburg University, Center for Economic Research.
- Andrew Mountford & Harald Uhlig, 2009. "What are the effects of fiscal policy shocks?," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(6), pages 960-992.
- Andrew Mountford & Harald Uhlig, 2008. "What are the Effects of Fiscal Policy Shocks?," NBER Working Papers 14551, National Bureau of Economic Research, Inc.
- Andrew Mountford & Harald Uhlig, 2005. "What are the Effects of Fiscal Policy Shocks?," SFB 649 Discussion Papers SFB649DP2005-039, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Mountford, Andrew & Uhlig, Harald, 2002. "What are the Effects of Fiscal Policy Shocks?," CEPR Discussion Papers 3338, C.E.P.R. Discussion Papers.
- Fuerst, Timothy S., 1992. "Liquidity, loanable funds, and real activity," Journal of Monetary Economics, Elsevier, vol. 29(1), pages 3-24, February.
- Linnemann, Ludger & Schabert, Andreas, 2004. "Can fiscal spending stimulate private consumption?," Economics Letters, Elsevier, vol. 82(2), pages 173-179, February.
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