The output and welfare effects of government spending shocks over the business cycle

DOI10.1111/IERE.12308MaRDI QIDQ4556314zbMATH OpenOpenAlexFDO

Authors Jonathan Wolff, Eric R. Sims

Publication date 15 November 2018

Published in International Economic Review (Search for Journal in Brave)

Full work available at URL http://www.nber.org/papers/w19749.pdf

zbMATH Keywords

DSGE modelfiscal financinggovernment spendingoutput and welfare effects

Mathematics Subject Classification ID

Welfare economics (91B15) Dynamic stochastic general equilibrium theory (91B51) Macroeconomic theory (monetary models, models of taxation) (91B64)

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• Fiscal counter-cyclical rules and their conflicting implications for growth and welfare
• The composition of government expenditure and its consequences for macroeconomic performance
• Fiscal spending shocks, endogenous government spending, and real business cycles
• Governmentally amplified output volatility
• Nonlinear effects of fiscal policy over the business cycle
• The government wage bill and private activity
• The asymmetric government spending multipliers: evidence from US regions
• Episodes of war and peace in an estimated open economy model
• How does government spending news affect interest rates? Evidence from the United States
• Fiscal policy over the real business cycle: a positive theory
• State-dependent effects of fiscal policy
• Do Welfare-Maximizing Governments Cause Political Business Cycles in Growth and Inequality?
• WELFARE COST OF MONETARY AND FISCAL POLICY SHOCKS
• Public consumption over the business cycle
• Government Spending Shocks and Rule‐of‐Thumb Consumers with Steady‐State Inequality*
• An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output
• Understanding the size of the government spending multiplier: it's in the sign
• Fiscal policy and uncertainty
• Increasing returns, capital utilization, and the effects of government spending

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