Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/48690
Autoren: 
Burgert, Matthias
Gomes, Pedro
Datum: 
2011
Reihe/Nr.: 
Beiträge zur Jahrestagung des Vereins für Socialpolitik 2011: Die Ordnung der Weltwirtschaft: Lektionen aus der Krise - Session: Fiscal Stimulus G2-V3
Zusammenfassung: 
We disaggregate government spending into five macroeconomic-relevant components: average wage, employment, purchases of intermediate goods and services, investment and transfers. We set up a simple RBC model with only search and matching frictions in the labour market to show that these components have different, quantitative and sometimes qualitative, effects on output, private wages and employment, the unemployment rate and private consumption. Using simulated data we show that a VAR with aggregate government spending and output does not identify any type of fiscal shock. We then use the several identification strategies proposed in the literature to understand the effects of different components, for the United States. We find that both the average wage and employment have larger multipliers than purchases of intermediate goods, investment and transfers. They also have distinct effects on private wages and private consumption.
Schlagwörter: 
Government spending
JEL: 
E62
Dokumentart: 
Conference Paper
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