The DOI matches its Crossref record; 48 of the 48 references it cites were found in a registry or an index.
Understanding the Effects of Government Spending on Consumption
Open accessAbstract
Recent evidence suggests that consumption rises in response to an increase in government spending. That finding cannot be easily reconciled with existing optimizing business cycle models. We extend the standard new Keynesian model to allow for the presence of rule-of-thumb consumers. We show how the interaction of the latter with sticky prices and deficit financing can account for the existing evidence on the effects of government spending.
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Citations
Cites
Discretion versus policy rules in practice
Taylor, J. B. (1993) · Carnegie-Rochester Conference Series on Public Policy · doi:10.1016/0167-2231(93)90009-l · Cited by 9,065
Staggered prices in a utility-maximizing framework
Calvo, G. A. (1983) · Journal of Monetary Economics · doi:10.1016/0304-3932(83)90060-0 · Cited by 7,901
Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
Christiano, L. J., Eichenbaum, M., & Evans, C. L. (2005) · Journal of Political Economy · doi:10.1086/426038 · Cited by 6,238
The Science of Monetary Policy: A New Keynesian Perspective
Clarida, R., Galí, J., & Gertler, M. (1999) · Journal of Economic Literature · doi:10.1257/jel.37.4.1661 · Cited by 4,916
Self-citationMonetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
Clarida, R., Gali, J., & Gertler, M. (2000) · Quarterly Journal of Economics · doi:10.1162/003355300554692 · Cited by 4,625
Staggered Prices in a Utility-Maximizing Framework
(1996) · Money, Exchange Rates, and Output · doi:10.7551/mitpress/4758.003.0007 · Cited by 4,369
An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area
Smets, F. R., & Wouters, R. (2003) · Journal of the European Economic Association · doi:10.1162/154247603770383415 · Cited by 3,450
Blanchard, O., & Perotti, R. (2002) · The Quarterly Journal of Economics · doi:10.1162/003355302320935043 · Cited by 2,910
Interest and Prices: Foundations of a Theory of Monetary Policy
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The Solution of Linear Difference Models under Rational Expectations
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Cited by
What are the effects of fiscal policy shocks?
Mountford, A., & Uhlig, H. (2009) · Journal of Applied Econometrics · doi:10.1002/jae.1079 · Cited by 1,349
Monetary Policy and the Redistribution Channel
Auclert, A. (2019) · American Economic Review · doi:10.1257/aer.20160137 · Cited by 773
What Fiscal Policy Is Effective at Zero Interest Rates?
Eggertsson, G. B. (2011) · NBER Macroeconomics Annual · doi:10.1086/657529 · Cited by 658
CENTRAL BANK POLICIES AND INCOME AND WEALTH INEQUALITY: A SURVEY
Colciago, A., Samarina, A., & de Haan, J. (2019) · Journal of Economic Surveys · doi:10.1111/joes.12314 · Cited by 284
When is the Government Spending Multiplier Large?
Christiano, L. J., Eichenbaum, M., & Rebelo, S. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1680616 · Cited by 259
Metadata
- Authors
- Galí, J., López-Salido, J. D., & Vallés, J.
- Venue
- Journal of the European Economic Association
- Publisher
- Oxford University Press (OUP)
- Published
- 2007-03-01
- Volume
- 5
- Issue
- 1
- Pages
- 227-270
- ISSN
- 1542-4766 (ISSN-L)
- 1542-4774
- OpenAlex
- W2149530077
- Cited by
- 1,922
- References
- 48
- FWCI
- 186.33
- Type
- journal article
- Language
- en
- Open access
- gold
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- Galí, J., López-Salido, J. D., & Vallés, J. (2007). Understanding the Effects of Government Spending on Consumption. Journal of the European Economic Association. https://doi.org/10.1162/jeea.2007.5.1.227
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
