Understanding the Effects of a Shock to Government Purchases

被引：166
|
作者：
Edelberg, Wendy [1 ]
Eichenbaum, Martin [2 ]
Fisher, Jonas D. M. [3 ]
机构：
[1] Univ Chicago, Dept Econ, Chicago, IL 60637 USA
[2] Northwestern Univ, Dept Econ, Evanston, IL 60208 USA
[3] Fed Reserve Bank Chicago, Econ Res Dept, Chicago, IL USA
来源：
REVIEW OF ECONOMIC DYNAMICS | 1999年 / 2卷 / 01期
基金：
美国国家科学基金会;
关键词：
D O I：
10.1006/redy.1998.0036
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper investigates the consequences of an exogenous increase in U.S. government purchases. We find that in response to such a shock, employment, output, and nonresidential investment rise, while real wages, residential investment, and consumption expenditures fall. The paper argues that a simple variant of the neoclassical growth model which distinguishes between nonresidential and residential investment is consistent with this evidence. (C) 1999 Academic Press
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页码：166 / 206
页数：41
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