The Stabilizing Role of Government Size

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Automatic Stabilizers and Economic Crisis: US vs. Europe (2012, unknown): “In fact, under some reasonable assumptions, a standard RBC model produces a positive correlation (Andrés et al. (2008)). In addition, such models are not able to explain evidence that consumption responds positively to increases in government spending (Blanchard and Perotti (2002), Fatàs and Mihov (”
Cyclical Fiscal Policy, Credit Constraints, and Industry Growth (2014, result): “that introduce rational expectations and long-run wealth e¤ects, will typically predict a lower value of the multiplier (based on the idea that consumers anticipate that an increase in government spending today is likely to result in an increase in taxes tomorrow).(12) We move beyond this debate by ”
Increasing Public Expenditure: Wagner’s Law in OECD Countries (2011, background): “, 2002), business cycle volatility (Fatas and Mihov, 2001; Andrés et al. 2007) to name the principal ones.”
Has the Fed Been a Failure (2012, unknown): “Subsequent research (e.g. Gali, 1994; Fatás and Mihov, 2001; Andres et al., 2008; Mohanty and Zampolli, 2009) documents a pronounced (though not necessarily linear) relationship between government size and the volatility of real output.”