Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/168139 
Title: 

The Government Spending Multiplier at the Zero Lower Bound: Evidence from the United States

The document was removed on behalf of the author(s)/ the editor(s).

Year of Publication: 
2017
Series/Report no.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2017: Alternative Geld- und Finanzarchitekturen - Session: Fiscal Policy No. C07-V3
Publisher: 
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, Kiel, Hamburg
Abstract: 
We estimate state-dependent government spending multipliers. We use an Interacted VAR model to capture the time-varying monetary policy characteristics including the recent zero interest rate lower bound (ZLB) state. We identify government spending shocks by sign restrictions and using a government spending forecast series to account for the effects of anticipated fiscal policy. We find that multipliers range from 3.4 to 4.1 at the ZLB. Away from the ZLB, multipliers are at least 1.3.
JEL: 
C32
E32
E62
Document Type: 
Conference Paper

Files in This Item:
The document was removed on behalf of the author(s)/ the editor(s) on: September 13, 2017


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