Add to ORKGRecent evidence on the effect of government spending shocks on consumption cannot be easily reconciled with existing optimizing business cycle models. We extend the standard New Keynesian model to allow for the presence of rule-of-thumb (non-Ricardian) consumers. We show how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on the effects of government spending. JEL Klassifikation: E32, E62
Standard New Keynesian models cannot generate the widely observed result that private consumption is...
This paper analyses the effects on private consumption from an increase in productive and unproducti...
This paper investigates the effects of government spending on private consumption and investment in ...
Recent evidence on the effect of government spending shocks on consump-tion cannot be easily reconci...
Recent evidence on the effect of government spending shocks on consump-tion cannot be easily reconci...
Recent evidence suggests that consumption rises in response to an increase in government spending. T...
We document a secular change in the structure of government consumption spending: over time the gove...
The significant role of government consumption in affecting economic conditions raises the necessity...
Using a Bayesian SVAR analysis, we document that an increase in government purchases raises private ...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
The empirical literature on the effects of government spending shocks lacks unanimity about the resp...
In this paper, we revisit the effects of government spending shocks on private aggregate consumption...
We implement a recently developed econometric model, the Factor Augmented VAR (FAVAR), to investigat...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
The objective of this paper is to identify and explain effects of a government spending shock. After...
Standard New Keynesian models cannot generate the widely observed result that private consumption is...
This paper analyses the effects on private consumption from an increase in productive and unproducti...
This paper investigates the effects of government spending on private consumption and investment in ...
Recent evidence on the effect of government spending shocks on consump-tion cannot be easily reconci...
Recent evidence on the effect of government spending shocks on consump-tion cannot be easily reconci...
Recent evidence suggests that consumption rises in response to an increase in government spending. T...
We document a secular change in the structure of government consumption spending: over time the gove...
The significant role of government consumption in affecting economic conditions raises the necessity...
Using a Bayesian SVAR analysis, we document that an increase in government purchases raises private ...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
The empirical literature on the effects of government spending shocks lacks unanimity about the resp...
In this paper, we revisit the effects of government spending shocks on private aggregate consumption...
We implement a recently developed econometric model, the Factor Augmented VAR (FAVAR), to investigat...
iv Abstract This thesis investigates the effects of government spend- ing on aggregate economic vari...
The objective of this paper is to identify and explain effects of a government spending shock. After...
Standard New Keynesian models cannot generate the widely observed result that private consumption is...
This paper analyses the effects on private consumption from an increase in productive and unproducti...
This paper investigates the effects of government spending on private consumption and investment in ...