The asymmetric government spending multipliers: Evidence from US regions

被引：0
|
作者：
Lu, Jiajun [1 ]
Zhu, Yueteng [2 ]
机构：
[1] Zhejiang Univ, Int Business Sch, 718 East Haizhou Rd, Haining 314400, Zhejiang, Peoples R China
[2] NYU, Dept Econ, 19 West 4th St, New York, NY 10003 USA
来源：
ECONOMICS LETTERS | 2021年 / 208卷
关键词：
Government spending; Asymmetric effect; Multiplier; Economic output;
D O I：
10.1016/j.econlet.2021.110056
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper tests the asymmetry in government spending multipliers using the panel data in the US postwar states. Empirical results show that output and employment rate respond asymmetrically to military procurement spending shocks with different signs and magnitudes. Our findings suggest that expansionary multipliers are much larger than contractionary multipliers, and that small-scale spending shocks tend to have a greater impact than large-scale ones. (C) 2021 Elsevier B.V. All rights reserved.
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