| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21433 |
| 来源ID | Working Paper 21433 |
| Clearing Up the Fiscal Multiplier Morass: Prior and Posterior Analysis | |
| Eric M. Leeper; Nora Traum; Todd B. Walker | |
| 发表日期 | 2015-08-10 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We use Bayesian prior and posterior analysis of a monetary DSGE model, extended to include fiscal details and two distinct monetary-fiscal policy regimes, to quantify government spending multipliers in U.S. data. The combination of model specification, observable data, and relatively diffuse priors for some parameters lands posterior estimates in regions of the parameter space that yield fresh perspectives on the transmission mechanisms that underlie government spending multipliers. Posterior mean estimates of short-run output multipliers are comparable across regimes—about 1.4 on impact—but much larger after 10 years under passive money/active fiscal than under active money/passive fiscal—means of 1.9 versus 0.7 in present value. |
| 主题 | Econometrics ; Estimation Methods ; Macroeconomics ; Fiscal Policy |
| URL | https://www.nber.org/papers/w21433 |
| 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/579108 |
| 推荐引用方式 GB/T 7714 | Eric M. Leeper,Nora Traum,Todd B. Walker. Clearing Up the Fiscal Multiplier Morass: Prior and Posterior Analysis. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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