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The Effect of Government Spending on Private Consumption: A Puzzle?

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  1. Marattin, Luigi & Salotti, Simone, 2011. "On the usefulness of government spending in the EU area," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(6), pages 780-795.
  2. Edouard Challe & Xavier Ragot, 2011. "Fiscal Policy in a Tractable Liquidity‐Constrained Economy," Economic Journal, Royal Economic Society, vol. 121(551), pages 273-317, March.
  3. Deleidi, Matteo & Iafrate, Francesca & Levrero, Enrico Sergio, 2020. "Public investment fiscal multipliers: An empirical assessment for European countries," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 354-365.
  4. Philipp Wegmueller, 2014. "Utility functions, fiscal shocks and the open economy - In the search of a positive consumption multiplier," Diskussionsschriften dp1407, Universitaet Bern, Departement Volkswirtschaft.
  5. Laurent Ferrara & Luca Metelli & Filippo Natoli & Daniele Siena, 2020. "Questioning the puzzle: Fiscal policy, exchange rate and inflation," Working papers 752, Banque de France.
  6. Shafik Hebous, 2011. "The Effects Of Discretionary Fiscal Policy On Macroeconomic Aggregates: A Reappraisal," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 674-707, September.
  7. Kenichi Tamegawa, 2012. "Two-Region DSGE Analysis of Regionally Targeted Fiscal Policy," The Review of Regional Studies, Southern Regional Science Association, vol. 42(3), pages 249-263, Winter.
  8. Agustín S. Bénétrix, 2012. "Fiscal Shocks And Real Wages," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 17(3), pages 203-220, July.
  9. Davig, Troy & Leeper, Eric M., 2011. "Monetary-fiscal policy interactions and fiscal stimulus," European Economic Review, Elsevier, vol. 55(2), pages 211-227, February.
  10. Dalia Ibrahim Mustafa & Ghazi Ibrahim Al-Assaf, 2022. "The Asymmetric Effects of the Determinants of Real Exchange Rate in Jordan: ‎The Role of Price Index Selection," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 24(2), pages 121-139, December.
  11. Kenichi Tamegawa, 2012. "Closed Form of Fiscal Multipliers in a DSGE model with Liquidity-Constrained households," Economics Bulletin, AccessEcon, vol. 32(4), pages 3148-3157.
  12. Reicher, Claire, 2014. "Systematic fiscal policy and macroeconomic performance: A critical overview of the literature," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 8, pages 1-37.
  13. Patrick F?ve & Julien Matheron & Jean-Guillaume Sahuc, 2013. "A Pitfall with Estimated DSGE-Based Government Spending Multipliers," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 141-178, October.
  14. Kuo Chun-Hung & Miyamoto Hiroaki, 2019. "Fiscal stimulus and unemployment dynamics," The B.E. Journal of Macroeconomics, De Gruyter, vol. 19(2), pages 1-19, June.
  15. Furlanetto, Francesco, 2011. "Fiscal stimulus and the role of wage rigidity," Journal of Economic Dynamics and Control, Elsevier, vol. 35(4), pages 512-527, April.
  16. Kuo, Chun-Hung & Miyamoto, Hiroaki, 2015. "Fiscal stimuli in the form of job creation subsidies," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 267-284.
  17. Takao Fujii & Kazuki Hiraga & Masafumi Kozuka, 2012. "Analyses of Public Investment Shock in Japan: Factor Augmented Vector Autoregressive Approach," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-006, Keio/Kyoto Joint Global COE Program.
  18. Gregory E. Givens, 2022. "Unemployment, Partial Insurance, And The Multiplier Effects Of Government Spending," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(2), pages 571-599, May.
  19. Umut UNAL, 2015. "Rethinking The Effects Of Fiscal Policy On Macroeconomic Aggregates: A Disaggregated Svar Analysis," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 120-135, September.
  20. Ravn, Morten & Uribe, Martín & Schmitt-Grohé, Stephanie, 2007. "Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate," CEPR Discussion Papers 6541, C.E.P.R. Discussion Papers.
  21. Marco Riguzzi & Philipp Wegmueller, 2017. "Economic Openness and Fiscal Multipliers," International Economic Journal, Taylor & Francis Journals, vol. 31(1), pages 1-35, January.
  22. Soldatos, Gerasimos T., 2014. "Local Taxation, Private-Public Consumption Complementarity, and the Optimal Number of Jurisdictions," MPRA Paper 60861, University Library of Munich, Germany.
  23. Eduardo Garzón Espinosa & Bibiana Medialdea García & Esteban Cruz Hidalgo, 2021. "Fiscal Policy Approaches: An Inquiring Look From The Modern Monetary Theory," Journal of Economic Issues, Taylor & Francis Journals, vol. 55(4), pages 999-1022, October.
  24. Azad, Nahiyan Faisal & Serletis, Apostolos & Xu, Libo, 2021. "Covid-19 and monetary–fiscal policy interactions in Canada," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 376-384.
  25. Lena Malešević-Perović, 2016. "Government Debt-Interest Rate Nexus in G7 Countries over a Long Horizon," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 63(5), pages 603-625, December.
  26. Kato, Ryuta Ray & Miyamoto, Hiroaki, 2013. "Fiscal stimulus and labor market dynamics in Japan," Journal of the Japanese and International Economies, Elsevier, vol. 30(C), pages 33-58.
  27. Ferrara, Laurent & Metelli, Luca & Natoli, Filippo & Siena, Daniele, 2021. "Questioning the puzzle: Fiscal policy, real exchange rate and inflation," Journal of International Economics, Elsevier, vol. 133(C).
  28. Patrick F?ve & Julien Matheron & Jean-Guillaume Sahuc, 2013. "A Pitfall with Estimated DSGE-Based Government Spending Multipliers," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 141-178, October.
  29. Roel Beetsma & Massimo Giuliodori, 2011. "The Effects of Government Purchases Shocks: Review and Estimates for the EU," Economic Journal, Royal Economic Society, vol. 121(550), pages 4-32, February.
  30. Anna Kormilitsina & Sarah Zubairy, 2018. "Propagation Mechanisms for Government Spending Shocks: A Bayesian Comparison," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(7), pages 1571-1616, October.
  31. Olalekan Charles Okunlola & Anthony E. Akinlo, 2021. "Does economic freedom enhance quality of life in Africa?," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 68(3), pages 357-387, September.
  32. Masataka Eguchi & Yuhki Hosoya & Mai Yamada, 2023. "The Consumption Multiplier of Government Spending: The Role of Substitutability between Government Spending and Leisure," ISER Discussion Paper 1211, Institute of Social and Economic Research, Osaka University.
  33. Florin O. Bilbiie, 2009. "Nonseparable Preferences, Fiscal Policy Puzzles, and Inferior Goods," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(2‐3), pages 443-450, March.
  34. Mario Di Serio & Matteo Fragetta & Emanuel Gasteiger, 2020. "The Government Spending Multiplier at the Zero Lower Bound: Evidence from the United States," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 82(6), pages 1262-1294, December.
  35. Ibrahim Unalmis, 2010. "Composition of the Government Spending and Behaviour of the Real Exchange Rate in a Small Open Economy," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 10(1), pages 1-27.
  36. Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021. "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1275-1313, November.
  37. Quaghebeur, Ewoud, 2019. "Learning And The Size Of The Government Spending Multiplier," Macroeconomic Dynamics, Cambridge University Press, vol. 23(8), pages 3189-3224, December.
  38. Ercolani, Valerio & Valle e Azevedo, João, 2014. "The effects of public spending externalities," Journal of Economic Dynamics and Control, Elsevier, vol. 46(C), pages 173-199.
  39. Hongyun Han & Shuang Lin, 2019. "Government Size and Regional Capital Flows in China," Sustainability, MDPI, vol. 11(23), pages 1-19, November.
  40. Alfan Mansur, 2023. "Simultaneous identification of fiscal and monetary policy shocks," Empirical Economics, Springer, vol. 65(2), pages 697-728, August.
  41. Caldara, Dario & Kamps, Christophe, 2008. "What are the effects of fiscal policy shocks? A VAR-based comparative analysis," Working Paper Series 877, European Central Bank.
  42. Ana Mitreska & Sultanija Bojcheva – Terzijan, 2017. "Panel Estimation of the Impact of Foreign Banks Presence on Selected Banking Indicators in Macedonia," Working Papers 2017-04, National Bank of the Republic of North Macedonia.
  43. Iwata, Yasuharu, 2013. "Two fiscal policy puzzles revisited: New evidence and an explanation," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 188-207.
  44. Wee Chian Koh, 2017. "Fiscal multipliers: new evidence from a large panel of countries," Oxford Economic Papers, Oxford University Press, vol. 69(3), pages 569-590.
  45. Gregory de Walque & Thomas Lejeune & Ansgar Rannenberg & Magne Mogstad, 2023. "BEMGIE: Belgian Economy in a Macro General and International Equilibrium model," Working Paper Research 435, National Bank of Belgium.
  46. AMENDOLA, Adalgiso & DI SERIO, Mario & FRAGETTA, Matteo, 2018. "The Government Spending Multiplier at the Zero Lower Bound: Evidence from the Euro Area," CELPE Discussion Papers 153, CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy.
  47. Cheng-wei Chang & Ting-wei Lai, 2024. "Government spending and monopolistic competition with heterogeneous firm productivity," Journal of Economics, Springer, vol. 141(2), pages 101-135, March.
  48. Stefano Eusepi & Bruce Preston, 2009. "Labor Supply Heterogeneity and Macroeconomic Co-movement," NBER Working Papers 15561, National Bureau of Economic Research, Inc.
  49. Bozhechkova, Alexandra Viktorovna & Vashelyuk, Natalia. & Nazarov, P.A. & Perevyshin, Yuri & Tumanova, Elena Alexandrovna & Shagas, Natalia, 2015. "Modeling the Effects of Economic Policy and Changes in the Behavior of Economic Agents," Published Papers 2311, Russian Presidential Academy of National Economy and Public Administration.
  50. Matteo Fragetta & Giovanni Melina, 2010. "The Effects of Fiscal Shocks in SVAR Models: A Graphical Modelling Approach," Birkbeck Working Papers in Economics and Finance 1006, Birkbeck, Department of Economics, Mathematics & Statistics.
  51. Schaling, Eric & Tesfaselassie, Mewael F., 2017. "A Note On Trend Growth And Learning About Monetary Policy Rules In A Two-Block World Economy," Macroeconomic Dynamics, Cambridge University Press, vol. 21(1), pages 243-258, January.
  52. Tesfaselassie, Mewael F., 2014. "Trend growth and learning about monetary policy rules," Journal of Economic Dynamics and Control, Elsevier, vol. 41(C), pages 241-256.
  53. Furlanetto, Francesco & Natvik, Gisle J. & Seneca, Martin, 2013. "Investment shocks and macroeconomic co-movement," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 208-216.
  54. Rilind Kabashi, 2017. "Macroeconomic effects of fiscal policy in the European Union, with particular reference to transition countries," Public Sector Economics, Institute of Public Finance, vol. 41(1), pages 39-69.
  55. Andrea Colciago, 2006. "Sticky wages and rule of thumb consumers," Working Papers 98, University of Milano-Bicocca, Department of Economics, revised Sep 2006.
  56. Cheng-Wei Chang & Ching-Chong Lai & Juin-Jen Chang, 2018. "Fiscal Stimulus and Endogenous Firm Entry in a Monopolistic Competition Macroeconomic Model," The Japanese Economic Review, Springer, vol. 69(2), pages 207-225, June.
  57. Florin O. Bilbiie, 2011. "Nonseparable Preferences, Frisch Labor Supply, and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 221-251, February.
  58. Ambler, Steve & Bouakez, Hafedh & Cardia, Emanuela, 2017. "Does the crowding-in effect of public spending on private consumption undermine neoclassical models?," Research in Economics, Elsevier, vol. 71(3), pages 399-410.
  59. Yasemin Özerkek & Sadullah Çelik, 2010. "The Link between Government Spending, Consumer Confidence and Consumption Expenditures in Emerging Market Countries," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(4), pages 471-485, December.
  60. Givens, Gregory & Tavoy, Reid, 2024. "Entry, unemployment, and the transmission of government spending shocks," MPRA Paper 121894, University Library of Munich, Germany.
  61. Hasui Kohei, 2021. "Trend Growth and Robust Monetary Policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(2), pages 449-472, June.
  62. Cristiano Cantore & Paul Levine & Giovanni Melina, 2014. "A Fiscal Stimulus and Jobless Recovery," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(3), pages 669-701, July.
  63. Huang, Kevin X.D. & Liu, Fengqi & Meng, Qinglai & Xue, Jianpo, 2022. "Keeping up with the Joneses and the consumption response to government spending," Economics Letters, Elsevier, vol. 220(C).
  64. Troy Davig & Eric M. Leeper, 2009. "Expectations And Fiscal Stimulus," CAEPR Working Papers 2009-006, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
  65. Tamegawa, Kenichi, 2016. "Rating for government debt and economic stability," The Journal of Economic Asymmetries, Elsevier, vol. 13(C), pages 35-44.
  66. Sebastian Gechert & Henner Will, 2012. "Fiscal Multipliers: A Meta Regression Analysis," IMK Working Paper 97-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
  67. Naser Yenus Nuru, 2023. "Public spending, credit market conditions and economic activity in South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 91(3), pages 394-415, September.
  68. Rozina Shaheen, 2019. "Impact of Fiscal Policy on Consumption and Labor Supply under a Time-Varying Structural VAR Model," Economies, MDPI, vol. 7(2), pages 1-15, June.
  69. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2021. "Adaptive Importance Sampling for DSGE Models," BEMPS - Bozen Economics & Management Paper Series BEMPS84, Faculty of Economics and Management at the Free University of Bozen.
  70. AlKathiri, Nader & Atalla, Tarek N. & Murphy, Frederic & Pierru, Axel, 2020. "Optimal policies for managing oil revenue stabilization funds: An illustration using Saudi Arabia," Resources Policy, Elsevier, vol. 67(C).
  71. Tesfaselassie, Mewael F., 2013. "Trend productivity growth and the government spending multiplier," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 197-207.
  72. Roel Beetsma & Massimo Giuliodori, 2010. "Discretionary Fiscal Policy: Review and Estimates for the EU," CESifo Working Paper Series 2948, CESifo.
  73. Sebastian Dullien, 2012. "Is new always better than old? On the treatment of fiscal policy in Keynesian models," Review of Keynesian Economics, Edward Elgar Publishing, vol. 1(0), pages 5-23.
  74. Thomas Brand, 2017. "Vitesse et composition des ajustements budgétaires en équilibre général : une analyse appliquée à la zone euro," Revue économique, Presses de Sciences-Po, vol. 68(HS1), pages 159-182.
  75. Raffaele Rossi, 2007. "Rule of Thumb Consumers, Public Debt and Income Tax," Working Papers 2007_44, Business School - Economics, University of Glasgow, revised Dec 2007.
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