This paper studies empirical facts regarding the effects of unexpected changes in aggregate macroeconomic fiscal policies on consumers that differ depending on individual characteristics. We use data from the Consumption Expenditure Survey to estimate individual-level responses and multipliers for government spending. We find that unexpected fiscal shocks have substantially different effects on consumers depending on their income and age levels: the wealthiest individuals tend to behave according to predictions of standard RBC models, whereas the poorest ones behave according to standard IS-LM (non- Ricardian) models, most likely due to credit constraints. Furthermore, government spending policy shocks tend to decrease consumption inequali...
Consumption decisions are crucial determinants of business cycles and growth. Knowledge of how consu...
This paper studies how the effects of government spending vary with the economic environ-ment. Using...
This paper explores in a yearly panel of nineteen OECD countries from 1970-2002 the effects of fisca...
This paper studies empirical facts regarding the effects of unexpected changes in aggregate macroec...
Abstract: This paper studies empirical facts regarding the e¤ects of unexpected changes in aggregate...
This paper provides new evidence on the effects of fiscal policy by studying, using household-level ...
We show that consumption expenditures for older households are more responsive to monetary policy sh...
This paper provides new evidence on the effects of fiscal policy by studying, using household-level ...
We study the effects of government spending on the distribution of consumption. We find a substantia...
Recent evidence on the effect of government spending shocks on consumption cannot be easily reconcil...
This paper provides new evidence on the effects of fiscal policy by studying, using household-level ...
We investigate the effects of fiscal policy surprises for US data, using vector autoregressions.We o...
Recent research has stressed the inconsistency between empirical evidence and the theoretical predic...
Recent evidence on the effect of government spending shocks on consump-tion cannot be easily reconci...
Artículo de publicación ISIWe use a new narrative measure of fiscal shocks to study how private cons...
Consumption decisions are crucial determinants of business cycles and growth. Knowledge of how consu...
This paper studies how the effects of government spending vary with the economic environ-ment. Using...
This paper explores in a yearly panel of nineteen OECD countries from 1970-2002 the effects of fisca...
This paper studies empirical facts regarding the effects of unexpected changes in aggregate macroec...
Abstract: This paper studies empirical facts regarding the e¤ects of unexpected changes in aggregate...
This paper provides new evidence on the effects of fiscal policy by studying, using household-level ...
We show that consumption expenditures for older households are more responsive to monetary policy sh...
This paper provides new evidence on the effects of fiscal policy by studying, using household-level ...
We study the effects of government spending on the distribution of consumption. We find a substantia...
Recent evidence on the effect of government spending shocks on consumption cannot be easily reconcil...
This paper provides new evidence on the effects of fiscal policy by studying, using household-level ...
We investigate the effects of fiscal policy surprises for US data, using vector autoregressions.We o...
Recent research has stressed the inconsistency between empirical evidence and the theoretical predic...
Recent evidence on the effect of government spending shocks on consump-tion cannot be easily reconci...
Artículo de publicación ISIWe use a new narrative measure of fiscal shocks to study how private cons...
Consumption decisions are crucial determinants of business cycles and growth. Knowledge of how consu...
This paper studies how the effects of government spending vary with the economic environ-ment. Using...
This paper explores in a yearly panel of nineteen OECD countries from 1970-2002 the effects of fisca...