Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions

By Emi Nakamura, Jón Steinsson, N. Crouzet, Shaowen Luo, T. Nguyen, Steven J. Davis, Gauti B. Eggertsson, Jordi Galí, Erik Hurst, Karel Mertens and 6 more. 2014

727 citations recorded by the source corpus.

Subfields: Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/a19e664a1c04a0ddeab0357e01ca7f37aadb4d2b

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Citations in the corpus

Incomplete Information in Macroeconomics: Accommodating Frictions in Coordination (2016, unknown): “Consider, in particular, the literature on self-fulfilling currency attacks, such as Obstfeld (1996). In this context, the players can be interpreted as speculators choosing whether to attack a currency peg or not; θ represents the resources (e.”
The Transformation of Manufacturing and the Decline in US Employment (2019, result): “This point has been made in recent work by Beraja, Hurst, and Ospina (2016), Nakamura and Steinsson (2014), and Adão, Arkolakis, and Esposito (2019).”
A Theory of Countercyclical Government Multiplier (2014, unknown): “24 Nakamura and Steinsson ( 2011 ) measure how an increase in government consumption in a given US state during a military build-up affects employment in this state.”
Monetary Policy Pass-Through: Household Consumption and Voluntary Deleveraging (2014, background): “We show that households increase their car purchase spending by more than $150 per month, equivalent to See Nakamura and Steinsson (2014) and the literature aiming at estimating the fiscal multiplier for a discussion of a similar point.”
Mortgage Rates, Household Balance Sheets, and the Real Economy (2014, background): “ 7 Our findings on the impact of monetary policy on consumer spending also relates to work on the real effects of government spending (Auerbach and Gorodnichenko 2011; Nakamura and Steinsson 2014). fully documented incomes and assets.”
The Costs of Economic Nationalism: Evidence from the Brexit Experiment* (2019, background): “7See also the approach and the discussion in Nakamura and Steinsson (2014).”
The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy (2013, unknown): “Other recent papers on state-dependent multipliers, using various measures of slack, include Barro and Redlick (2011) and Nakamura and Steinsson (2014).”
The Aggregate Implications of Regional Business Cycles (2019, unknown): “This suggests that in periods where the economy is at the zero lower bound, aggregate and regional employment responses to a discount factor shock are more similar, a point also made in Nakamura and Steinsson (2014) with respect to government spending multipliers.”
General Equilibrium Effects of Cash Transfers: Experimental Evidence from Kenya (2019, background): “…empirical evidence from rich countries shows that fiscal multipliers can sometimes be positive and large, based on non-experimental variation generated by policy changes (Chodorow-Reich 2019; Nakamura and Steinsson 2014; Suarez Serrato and Wingender 2016; Auerbach, Gorodnichenko, and Murphy 2020).”
Jobs for the Heartland: Place-Based Policies in 21st-Century America (2018, unknown): “And third, we can revisit the evidence presented by Nakamura and Steinsson (2014) linking government spending to GDP growth and test for heterogeneous treatment effects on the not-working rate.”