Should we trust cross-sectional multiplier estimates?

被引：4
|
作者：
Canova, Fabio [1 ,2 ]
机构：
[1] Norwegian Business Sch, CAMP, Oslo, Norway
[2] Norwegian Business Sch, CEPR, Oslo, Norway
来源：
JOURNAL OF APPLIED ECONOMETRICS | 2024年 / 39卷 / 04期
关键词：
cross-sectional methods; dynamic heterogeneity; fiscal multipliers; monetary pass-through; partial pooling; GOVERNMENT SPENDING MULTIPLIERS; MONETARY-POLICY; IDENTIFICATION; STIMULUS; TIMES;
D O I：
10.1002/jae.3041
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
I examine the properties of cross-sectional estimators of multipliers, elasticities, or pass-throughs when a conventional spatial macroeconomic specification generates the data. A number of important biases plague standard estimates; the most relevant one occurs when the units display heterogeneous dynamics. Methods that work well in this situation are suggested. An experimental setting shows the magnitude of the biases cross-sectional estimators display. Average estimates of local fiscal multipliers in the US states are compared and contrasted.
引用
收藏
页码：589 / 606
页数：18
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