The DOI matches its Crossref record; 73 of the 73 references it cites were found in a registry or an index.
Fiscal Stimulus in a Monetary Union: Evidence from US Regions
Open accessAbstract
We use rich historical data on military procurement to estimate the effects of government spending. We exploit regional variation in military buildups to estimate an “open economy relative multiplier” of approximately 1.5. We develop a framework for interpreting this estimate and relating it to estimates of the standard closed economy aggregate multiplier. The latter is highly sensitive to how strongly aggregate monetary and tax policy “leans against the wind.” Our open economy relative multiplier “differences out” these effects because monetary and tax policies are uniform across the nation. Our evidence indicates that demand shocks can have large effects on output. (JEL E12, E32, E62, F33, H56, H57, R12)
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Cites
Filders, R. (1992) · International Journal of Forecasting · doi:10.1016/0169-2070(92)90130-2 · Cited by 16,165
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Testing for Weak Instruments in Linear IV Regression
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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
Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*
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Staggered Prices in a Utility-Maximizing Framework
(1996) · Money, Exchange Rates, and Output · doi:10.7551/mitpress/4758.003.0007 · Cited by 4,369
A Survey of Weak Instruments and Weak Identification in Generalized Method of Moments
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Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles
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Cited by
Chetty, R., Guren, A., Manoli, D., & Weber, A. (2011) · American Economic Review · doi:10.1257/aer.101.3.471 · Cited by 852
Can Government Purchases Stimulate the Economy?
Ramey, V. A. (2011) · Journal of Economic Literature · doi:10.1257/jel.49.3.673 · Cited by 772
The Effect of Population Aging on Economic Growth, the Labor Force, and Productivity
Maestas, N., Mullen, K. J., & Powell, D. (2023) · American Economic Journal: Macroeconomics · doi:10.1257/mac.20190196 · Cited by 395
Estimating Local Fiscal Multipliers
Suárez Serrato, J. C., & Wingender, P. (2016) · doi:10.3386/w22425 · Cited by 270
Finance and Growth at the Firm Level: Evidence from SBA Loans
BROWN, J. D., & EARLE, J. S. (2017) · The Journal of Finance · doi:10.1111/jofi.12492 · Cited by 226
Metadata
- Authors
- Nakamura, E., & Steinsson, J.
- Venue
- American Economic Review
- Publisher
- American Economic Association
- Published
- 2014-03-01
- Volume
- 104
- Issue
- 3
- Pages
- 753-792
- ISSN
- 0002-8282 (ISSN-L)
- OpenAlex
- W2052662085
- Cited by
- 911
- References
- 73
- FWCI
- 163.12
- Type
- journal article
- Language
- en
- Open access
- green
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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.
