Understanding the E ects of Govern-ment Spending on Consumption

By J. Gaĺı, D. López-Salido, Javier Vallés. 2003

223 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/402e3168e17684c06c38bf95c23c401cb65ed3d4

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Citations in the corpus

Macroeconomic Fluctuations and Firm Entry: Theory and Evidence (2006, background): “CPI ination can be written as e t = t + ( b Nt b Nt 1) (17) where welfare-based ination is given by the identity t !t b wt and !t denotes nominal wage ination, ie.”
New Keynesian models, durable goods, and collateral constraints (2009, background): “By evaluating (13) in the steady state, and combining with (27), we obtain the borrowers relative consumption of durables:”
Using stock returns to identify government spending shocks (2010, unknown): “Many other papers have used this approach, including Berndt, Lustig, and Yeltekin (2009), Fatas and Mihov (2001), Gali, Lopez Salido, and Valles (2007), Mountford and Uhlig (2002), Perotti (2002), and Perotti (2007).”
Fiscal Policy, the Trade Balance, and the Real Exchange Rate: Implications for International Risk Sharing (2007, background): “Interestingly, the response of private consumption to a government spending shock is a key issue in the recent empirical literature on the macroeconomic e¤ects of government spending: on one hand, in the Structural Vector Autoregressions of Blanchard and Perotti (2002), Galí et al. (2006), and Perot”
The output effect of fiscal consolidation plans (2015, background): “Textbook Keynesian models and new Keynesian models with less than perfectly flexible prices, predict that spending cuts are always recessionary (see e.g. De Long and Summers 2012, Galì et al. 2007) and the multiplier for government spending should be larger in theory than that for taxes.”
A Behavioral New Keynesian Model (2020, background): “26The model in Gaĺı et al. (2007) is richer and more complex, as it features heterogeneous agents.”
Automatic Stabilizers and Economic Crisis: US vs. Europe (2012, unknown): “Galí et al. (2007) and Andrés et al. (2008) show that both facts can only be explained in a RBC model by adding Keynesian features like nominal and real rigidities in combination with rule-ofthumb consumers to the analysis.”
Fiscal policy and the Great Recession in the Euro Area (2012, unknown): “Based on the ﬁndings in the literature (see e.g. Coenen and Straub, 2005, and Gal´ı et al., 2007), the estimated share would, in general, be too low for generating a positive output multiplier of government consumption shocks in a standard New-Keynesian DSGE model.”
Precautionary Saving Over the Business Cycle (2016, unknown): “The left hand side of (14) is the current marginal utility of this household, which is equal to under condition (11).”
Technology Shocks and Robust Sign Restrictions in a Euro Area SVAR (2009, unknown): “The New Keynesian IS-Curve has the standard form: = ( +1) 1 ( ( +1)) (17) The pricing decision of the firm under the Rotemberg-type of nominal adjustment delivers the following forward looking equation for inflation:”