government spending multipliertime-varying parameter VARC5E6H5(2016). A note on the effects of government spending on economic growth in Korea. Journal of the Asia Pacific Economy: Vol. 21, No. 4, pp. 651-663. doi: 10.1080/13547860.2016.1204746...
Small open economies within a monetary union have a limited range of stabilisation tools, as area-wide nominal interest and exchange rates do not respond to country-specific shocks. Such limitations imply that imbalances can be difficult to resolve. We assess the role that government spending can ...
Until the early 20th century, most economists and government advisers favored balanced budgets or budget surpluses. TheKeynesianrevolution advocated a countercyclical fiscal policy during periods of economic woe. During such times, the government usesdeficit spendingto make up for the decline in investmen...
This paper introduces non-separability between private and public consumption in a dynamic, open economy with imperfect competition and nominal rigidities... Giovanni,Ganelli - 《Journal of International Money & Finance》 被引量: 137发表: 2003年 The Impact of Government Spending on the Private Secto...
Government Spending Multipliers under the Zero Lower Bound: Evidence from Japan Using a rich data set on government spending forecasts, we estimate the effects of unexpected government spending both when the nominal interest rate is near zero lower bound (ZLB) and outside of the ZLB period in ...
In this article, we will analyse the effects of public spending on education on productivity, wages, and growth at European Union level. We are trying to find out to what extent education expenditures and human capital contribute to improving productivity, achieving higher wages, and enhancing the...
Research has also focused on the regulator role of the government in firms’ ESG behavior and documented that the government's regulatory intervention in ESG can reduce voluntary ESG spending in the emerging market (Rajgopal and Tantri 2022). However, rarely has prior research investigated the ...
2 These circumstances suggest the possibility of revealing the crowding-out problem. Public investment crowds out aggregate private investment, following both the transitional neoclassical and Keynesian models. Voss (2002) uses a structural VAR model to show that government spending decreases private ...
This paper empirically investigates the effects of fiscal expansions on the trade account balance in Korea using an open economy vector autoregressive (VAR) model. Specifically, we study how the trade account balance responds to government spending shocks through the propagation mechanisms of the shock...
This study examines the short-and intermediate-run effects of a permanent reduction in U.S. personal income taxes on interest rates, output, prices, exchange rates, and the current account, holding government spending and money growth fixed. The theoretical analysis suggests that interest rates and...