G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w15153
来源IDWorking Paper 15153
Government Investment and Fiscal Stimulus in the Short and Long Runs
Eric M. Leeper; Todd B. Walker; Shu-Chun Susan Yang
发表日期2009-07-09
出版年2009
语种英语
摘要This paper contributes to the debate about fiscal multipliers by studying the impacts of government investment in conventional neoclassical growth models. The analysis focuses on two dimensions of fiscal policy that are critical for understanding the effects of government investment: implementation delays associated with building public capital projects and expected future fiscal adjustments to debt-financed spending. Implementation delays can produce small or even negative labor and output responses in the short run; anticipated fiscal financing adjustments matter both quantitatively and qualitatively for long-run growth effects. Taken together, these two dimensions have important implications for the short-run and long-run impacts of fiscal stimulus in the form of higher government infrastructure investment. The analysis is conducted in several models with features relevant for studying government spending, including utility-yielding government consumption, time-to-build for private investment, and government production.
主题Macroeconomics ; Fiscal Policy ; Public Economics ; National Fiscal Issues
URLhttps://www.nber.org/papers/w15153
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/572828
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GB/T 7714
Eric M. Leeper,Todd B. Walker,Shu-Chun Susan Yang. Government Investment and Fiscal Stimulus in the Short and Long Runs. 2009.
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