Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/184792 
Erscheinungsjahr: 
2017
Schriftenreihe/Nr.: 
Working Paper No. 841
Verlag: 
Queen Mary University of London, School of Economics and Finance, London
Zusammenfassung: 
This paper uses state-level data to estimate the effect of federal defense spending shocks on state real activity. We find moderately strong evidence that for the average state the fiscal multiplier is larger during recessions. However, there is substantial heterogeneity across the cross-section. The degree of non-linearity in the effect of spending shocks is larger in states that are subject to a higher degree of financial frictions and lower labour market rigidity. In contrast states with a prevalence of mining and agricultural industries tend to have multipliers that are more similar across business cycle phases.
Schlagwörter: 
Fiscal policy shocks
non-linearity
structural VAR
JEL: 
C32
E62
R12
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
537.17 kB





Publikationen in EconStor sind urheberrechtlich geschützt.