Public consumption over the business cycle
What fraction of the business cycle volatility of government purchases is accounted for as endogenous reactions to overall macroeconomic conditions? We answer this question in the framework of a neoclassical representative household model where the provision of a public consumption good is decided u...
Bai, Jinhui H
|Place of publication:||
Oxford, UK Blackwell Publishing Ltd 01.11.2013
Wiley Subscription Services, Inc
|published in:||Quantitative economics Vol. 4; no. 3; pp. 417 - 451|
|Data of publication:||November 2013|
We are grateful to conference/seminar participants at the 2011 Cologne Workshop on Macroeconomics, the George Washington University, the IIES at Stockholm University, the 2011 Midwest Macro Meeting, the 2011 SED meeting (Ghent), and the University of Pennsylvania as well as Per Krusell, a co‐editor, and three anonymous referees for their comments. We would also like to thank Liz Accetta from the Census Bureau for providing us with the historical data of the Annual Survey of State Government Finances and Josh Montes for his excellent research assistance. The usual disclaimer applies.
|Database:||Web of Knowledge
Social Sciences Citation Index
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