American Economic Review: Vol. 103 No. 3 (May 2013)

Expand

Quick Tools:

Print Article Summary
Export Citation
Sign up for Email Alerts Follow us on Twitter

Explore:

AER - All Issues

AER Forthcoming Articles

Output Spillovers from Fiscal Policy

Article Citation

Auerbach, Alan J., and Yuriy Gorodnichenko. 2013. "Output Spillovers from Fiscal Policy." American Economic Review, 103(3): 141-46.

DOI: 10.1257/aer.103.3.141

Abstract

For a large number of OECD countries we estimate the cross-country spillover effects of government purchases on output. Following the methodology in Auerbach and Gorodnichenko (2012a, b), we allow these multipliers to vary smoothly according to the state of the economy and use real-time forecast data to purge policy innovations of their predictable components. Our findings suggest that cross-country spillovers have an important impact. The findings also confirm those of our earlier papers--namely that fiscal shocks have a larger impact when the affected country is in recession.

Article Full-Text Access

Full-text Article

Additional Materials

Authors

Auerbach, Alan J. (U CA, Berkeley)
Gorodnichenko, Yuriy (U CA, Berkeley)

JEL Classifications

E23: Macroeconomics: Production
E32: Business Fluctuations; Cycles
E62: Fiscal Policy


American Economic Review


Quick Tools:

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

AER - All Issues

AER - Forthcoming Articles

Virtual Field Journals


AEA Member Login:


AEAweb | AEA Journals | Contact Us