Ramey and zubairy 2018

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August undefined, 2024

Webbcontrast, Owyang, Ramey and Zubairy (2013) and Ramey and Zubairy (2024) do not observe larger multipliers when there is substantial economic slack in the United States. Bognanni (2013) and Alloza (2016) present evidence that the multipliers could even be smaller in economic downturns than in booms. Webbto Ramey and Zubairy 2024, we nd a ve-fold increase in the scal multiplier for above-median excess capacity counties compared to below-media excess capacity counties. One recent paper (Michaillat 2014) shows that when unemployment is higher, public sector employment crowds out fewer matches and thus the multiplier is countercyclical.

Economic policy uncertainty and government spending multipliers

Webb7 mars 2024 · Valerie A. Ramey University of California, San Diego, and National Bureau of Economic Research Sarah Zubairy Texas A&M University We … Webb21 jan. 2013 · A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data covering multiple large wars and depressions in the U.S. and Canada. Using an extension of Ramey’s … prefer freezer services of woddbridge

[PDF] Are Government Spending Multipliers Greater During Periods …

WebbRamey and Zubairy(2024) constructed a military news shock to investigate whether US government spending multipliers are higher during periods of economic slack or when … Webb9 juli 2024 · Thanks include large part into recently performed tax cuts, U.S. fiscal directive has taken a decidedly procyclical turn—providing stimulus when the economy can growing. In fact, the projected increase in the federal deficit over the next few year become represent the most procyclical fiscal policy stance since the Vietnam Fighting. This matters … Webbrz-thr-test.R: Using the sup-Wald test in Hansen (2000), it conducts inference for multiple regimes. Main outputs are. rz-threshold.R: Estimates the threshold regression model. Main outputs are. jordagk_llss_newsy.do: Stata do file. We modify the original code from Ramey and Zubairy (2024) to apply the estimated threshold point 11.97. s corporation selling shares

Government Spending Multipliers in Good Times and in Bad

Sarah Zubairy IDEAS/RePEc - Research Papers in Economics

WebbNotes: The defense news shocks are from Ramey and Zubairy (2024). The estimated shocks are the Blanchard-Perotti shocks. Both shocks are normalized by potential GDP. Our results are robust to using only the BP shock as an instrument (Table A.2 and Figure A.1, panel a), but not the defence news shock on its own (Table A.3 and Figure A.1, panel b). Webb20 okt. 2024 · Ramey, V., Zubairy, S. (2024), “Government spending multipliers in good times and in bad: evidence from U.S. historical data”, Journal of Political Economy, No. … prefer french conjugationWebbof the methodology developed by Ramey and Zubairy(2024, RZ hereafter). They consider the state-dependent local projection method of Jordà(2005). Their baseline regression … s corporation shareholder basis schedule

"Webbtrend GDP (Gordon and Krenn,2010; Ramey and Zubairy,2024) rather than lagged GDP (as done by, e.g., Hall,2009; Barro and Redlick,2011). The latter approach produces ﬁscal " - Ramey and zubairy 2018

Ramey and zubairy 2018

Fiscal Policy in Good Times and Bad San Francisco Fed / …

Webb20 okt. 2024 · Ramey, V., Zubairy, S. (2024), “Government spending multipliers in good times and in bad: evidence from U.S. historical data”, Journal of Political Economy, No. 126, pp. 850-901. Woodford, M. (2012), “Methods of policy accommodation at the interest-rate lower bound”, Proceedings - Economic Policy Symposium - Jackson Hole, pp. 185-288.

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WebbReferences Angeletos, G., F. Collard, and H. Dellas (2024): “BusinessCycleAnatomy,” AmericanEconomicReview,110(10),3030–3070. Antolín-Díaz, J., and J. F ... Webb24 okt. 2024 · In a recent paper, Ramey and Zubairy extended the investigation of nonlinearity in a number of directions. One of their key contributions was to use a data set spanning from 1889 to 2013, thus exploiting a substantially larger number of recessions and expansions than previous papers that typically employed time series starting after …

WebbRamey and Zubairy (2024) multipliers around . 1.5. for historical samples in the US. ... • Ramey (2024) positive long-run effects of infrastructure investment, but short run effects ambiguous. • Pappa (2009) increases in government investment … Webbas in Ramey and Zubairy (2024).7 On the contrary, the parsimonious nature of FAIR allows us to simultaneously study asymmetry and state-dependence. Our paper also relates to an important literature that estimates the e ects of scal policy by exploiting additional variation from the cross-section, either from di erent countries or from

WebbValerie Ramey and Sarah Zubairy () Journal of Political Economy, 2024, vol. 126, issue 2, 850 - 901 Abstract: We investigate whether US government spending multipliers are … Webbsum of US real government spending. As emphasised by Ramey and Zubairy (2024a), these shocks have quite di erent properties. We provide their summary statistics in Table A.1. Here, we redo our analysis using only the defense news or BP shock as an instrument. Table A1: Summary statistics for U.S. scal shocks Defense news shocks Estimated shocks

WebbProject #2Matlab code for replicating Ramey-ZubairyMatlab code for calculating Newey-West standard errors - used by main_us_annotated.mExcel Data file accompanying …

WebbUniversity of Notre Dame prefer full sized bed cozy chddleWebbregime. In Ramey and Zubairy (2024), the baseline results assume that the US econ-omy is in a slack state if the unemployment rate is above 6.5 percent. To check the baseline results, Ramey and Zubairy (2024) conducted various robustness checks using di erent thresholds. To be consistent with the empirical literature, we build on Ramey and Zubairy prefer full sized bed cozy cuddleWebbRamey and Zubairy (2024, 2024) re-examine Auerbach and Gorodnichenko’s results using local projection methods and consistently defined cumulative multipliers and find very different results, broadly in agreement with their own findings. 3. Yet, Ramey and Zubairy (2024, 2024) analyse only total government spending and not its components. s corporation shareholder basis computationWebbFollowing Ramey (2016), we illustrate these methods using Gertler and Karadi’s (2015) application, in which they estimate the dynamic causal effect of a monetary policy shock using SVAR-IV, with an instrument that captures the news revealed in s corporations for saleWebbValerie A. Ramey and Sarah Zubairy（2024）, “Government Spending Multipliers in Good Times and in Bad: Evidence from US Historical Data”, Journal of Political Economy, 126, 850-901. Oscar Jorda（2005）, “Estimation and Inference of Impulse Responses by Local Projections”, The American Economic Review, 161-182. s corporation shareholder basis calculationWebbValerie A. Ramey University of California, San Diego and NBER Sarah Zubairy Texas A&M University Abstract We investigate whether U.S. government spending multipliers are … prefergitfrompathWebbValerie A. Ramey & Sarah Zubairy, 2024. " Government Spending Multipliers in Good Times and in Bad: Evidence from US Historical Data ," Journal of Political Economy, University … s corporation shareholder basis form