| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7840 |
| DP7840 Fiscal Foresight and the Effects of Goverment Spending | |
| Mario Forni; Luca Gambetti | |
| 发表日期 | 2010-05-24 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | We study the effects of government spending by using a structural, large dimensional, dynamic factor model. We find that the government spending shock is non-fundamental for the variables commonly used in the structural VAR literature, so that its impulse response functions cannot be consistently estimated by means of a VAR. Government spending raises both consumption and investment, with no evidence of crowding out. The impact multiplier is 1.7 and the long run multiplier is 0.6. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal policy Fundamentalness Government spending shock Non-fundamentalness Sign restrictions Structural factor model |
| URL | https://cepr.org/publications/dp7840 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536678 |
| 推荐引用方式 GB/T 7714 | Mario Forni,Luca Gambetti. DP7840 Fiscal Foresight and the Effects of Goverment Spending. 2010. |
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