Ramey and zubairy 2018
WebbAuerbach and Gorodnichenko (2013), Jordà and Taylor (2016), Ramey and Zubairy (2024), as well as Born, Müller, and Pfeifer (2024) among others, also rely on local projections … Webbby Ramey and Zubairy (2024). The paper’s main results can be summarized as follows. An unanticipated cut in government expenditure leads to a long-lasting increase in net …
Ramey and zubairy 2018
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WebbValerie A. Ramey & Sarah Zubairy, 2024. " Government Spending Multipliers in Good Times and in Bad: Evidence from US Historical Data ," Journal of Political Economy, University … Webb24 okt. 2024 · In a recent paper, Ramey and Zubairy extended the investigation of nonlinearity in a number of directions. One of their key contributions was to use a data set spanning from 1889 to 2013, thus exploiting a substantially larger number of recessions and expansions than previous papers that typically employed time series starting after …
WebbValerie A. Ramey Sarah Zubairy Registered: Valerie Ann Ramey Sarah Zubairy Abstract We investigate whether US government spending multipliers are higher during periods of … WebbFollowing Ramey (2016), we illustrate these methods using Gertler and Karadi’s (2015) application, in which they estimate the dynamic causal effect of a monetary policy shock using SVAR-IV, with an instrument that captures the news revealed in
Webbregime. In Ramey and Zubairy (2024), the baseline results assume that the US econ-omy is in a slack state if the unemployment rate is above 6.5 percent. To check the baseline results, Ramey and Zubairy (2024) conducted various robustness checks using di erent thresholds. To be consistent with the empirical literature, we build on Ramey and Zubairy WebbRomer (2004, 2010) and Ramey and Zubairy (2024). In this work, we introduce an IR estimation methodol-ogy,smoothlocalprojections(SLP),thatbuildsonpenalized B-splines (Eilers & Marx, 1996). We model the sequence of IR coefficients as a linear combination of B-splines ba-sis functions, and we estimate the coefficients of this linear
Webbof time in a recessionary regime. In Ramey andZubairy(2024),thebaselineresultsassume thattheU.S.economyisinaslackstateifthe unemployment rate is above 6.5%. To check thebaselineresults,RameyandZubairy(2024) conducted various robustness checks using differentthresholds. To be consistent with the empirical litera-ture, we build on Ramey …
Webb2 juli 2024 · Auerbach and Gorodnichenko (2013), Jordà and Taylor (2016), Ramey and Zubairy (2024), as well as Born, Müller, and Pfeifer (2024) among others, also rely on local projections while analyzing fiscal policy. Their focus, however, is on the effects of fiscal policy changes on economic activity. marietta radioWebbsum of US real government spending. As emphasised by Ramey and Zubairy (2024a), these shocks have quite di erent properties. We provide their summary statistics in Table A.1. Here, we redo our analysis using only the defense news or BP shock as an instrument. Table A1: Summary statistics for U.S. scal shocks Defense news shocks Estimated shocks marietta radiator repairWebb7 mars 2024 · We investigate whether US government spending multipliers are higher during periods of economic slack or when interest rates are near the zero lower bound. … marietta radiator shopWebbTo overcome the anticipation I use news to identify the timing of shocks. I combine my solutions in an IV local projection framework, as in Ramey and Zubairy (2024), and estimate a cumulative relative multiplier of 1.8 and a discounted relative multiplier of 2.3 at the 15 year horizon. dallas accident attorney barberWebbRamey, V. A. and Zubairy, S. (2024) Government spending multipliers in good times and in bad: Evidence from US historical data. Journal of Political Economy 126 (2), 850 – 901.CrossRef Google Scholar dallas abc tv newsWebbSecond, Ramey and Zubairy (2024) use historical data on the U.S. economy to enlarge the number of observations during which the ZLB was binding. These studies provide dallas abortion clinics still openWebbRamey and Zubairy(2024) constructed a military news shock to investigate whether US government spending multipliers are higher during periods of economic slack or when … dallas accidents news