| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8846 |
| DP8846 The Household Effects of Government Spending | |
| Francesco Giavazzi; Michael McMahon | |
| 发表日期 | 2012-02-23 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper provides new evidence on the effects of fiscal policy by studying, using household-level data, how households respond to shifts in government spending. Our identification strategy allows us to control for time-specific aggregate effects, such as the stance of monetary policy or the US-wide business cycle. However, it potentially prevents us from estimating the wealth effects associated with a shift in spending. We find significant heterogeneity in households' response to a spending shock; the effects appear vary over time depending, among other factors, on the state of business cycle and, at a lower frequency, on the composition of employment (such as the share of workers in part-time jobs). Shifts in spending could also have important distributional effects that are lost when estimating an aggregate multiplier. Heads of households working relatively few (weekly) hours, for instance, suffer from a spending shock of the type we analyzed: their consumption falls, their hours increase and their real wages fall. |
| 主题 | International Macroeconomics |
| 关键词 | Fiscal policy Household consumption Labor supply Psid |
| URL | https://cepr.org/publications/dp8846 |
| 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/537692 |
| 推荐引用方式 GB/T 7714 | Francesco Giavazzi,Michael McMahon. DP8846 The Household Effects of Government Spending. 2012. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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