| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17444 |
| 来源ID | Working Paper 17444 |
| Clearing Up the Fiscal Multiplier Morass | |
| Eric M. Leeper; Nora Traum; Todd B. Walker | |
| 发表日期 | 2011-09-22 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Bayesian prior predictive analysis of five nested DSGE models suggests that model specifications and prior distributions tightly circumscribe the range of possible government spending multipliers. Multipliers are decomposed into wealth and substitution effects, yielding uniform comparisons across models. By constraining the multiplier to tight ranges, model and prior selections bias results, revealing less about fiscal effects in data than about the lenses through which researchers choose to interpret data. When monetary policy actively targets inflation, output multipliers can exceed one, but investment multipliers are likely to be negative. Passive monetary policy produces consistently strong multipliers for output, consumption, and investment. |
| 主题 | Econometrics ; Estimation Methods ; Macroeconomics ; Fiscal Policy |
| URL | https://www.nber.org/papers/w17444 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575118 |
| 推荐引用方式 GB/T 7714 | Eric M. Leeper,Nora Traum,Todd B. Walker. Clearing Up the Fiscal Multiplier Morass. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17444.pdf（522KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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