Comment on "In Search of the Transmission Mechanism of Fiscal Policy"

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What is the Importance of Monetary and Fiscal Shocks in Explaining US Macroeconomic Fluctuations (2011, background): “policy variable (the federal funds rate, in our case), we might be ignoring the information that lagged values of the interest rate carry about changes in current government spending, which eventually affects our measure of the government spending shock.(17) To assess whether the exclusion of moneta”