(Not) dancing together : monetary policy stance and the government spending multiplier /
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| Author / Creator: | Belinga, Vincent, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2015. |
| Description: | 1 online resource (44 pages) : color illustrations. |
| Language: | English |
| Series: | IMF working paper ; WP/15/114 IMF working paper ; WP/15/114. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12504480 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 No. 15/114eb | |
| 100 | 1 | |a Belinga, Vincent, |e author. | |
| 245 | 1 | 0 | |a (Not) dancing together : |b monetary policy stance and the government spending multiplier / |c prepared by Vincent Belinga and Constant Lonkeng Ngouana. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2015. | ||
| 300 | |a 1 online resource (44 pages) : |b color illustrations. | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/15/114 | |
| 500 | |a "May 2015." | ||
| 500 | |a "Fiscal Affairs Department." | ||
| 504 | |a Includes bibliographical references (pages 32-34). | ||
| 520 | |a This paper provides estimates of the government spending multiplier over the monetary policy cycle. We identify government spending shocks as forecast errors of the growth rate of government spending from the Survey of Professional Forecasters (SPF) and from the Greenbook record. The state of monetary policy is inferred from the deviation of the U.S. Fed funds rate from the target rate, using a smooth transition function. Applying the local projections method to quarterly U.S. data, we find that the federal government spending multiplier is substantially higher under accommodative than non-accommodative monetary policy. Our estimations also suggest that federal government spending may crowd-in or crowd-out private consumption, depending on the extent of monetary policy accommodation. The latter result reconciles---in a unified framework---apparently contradictory findings in the literature. We discuss the implications of our findings for the ongoing normalization of monetary conditions in advanced economies. --Abstract. | ||
| 588 | 0 | |a Online resource; title from pdf title page (IMF.org Web site, viewed June 8, 2015). | |
| 650 | 0 | |a Expenditures, Public |x Econometric models. | |
| 650 | 0 | |a Government spending policy |z Developed countries |x Econometric models. | |
| 650 | 0 | |a Monetary policy |z Developed countries |x Econometric models. | |
| 650 | 0 | |a Fiscal policy |z Developed countries |x Econometric models. | |
| 650 | 6 | |a Dépenses publiques |x Modèles économétriques. | |
| 650 | 6 | |a Dépenses publiques |x Politique gouvernementale |z Pays industrialisés |x Modèles économétriques. | |
| 650 | 6 | |a Politique monétaire |z Pays industrialisés |x Modèles économétriques. | |
| 650 | 6 | |a Politique fiscale |z Pays industrialisés |x Modèles économétriques. | |
| 650 | 7 | |a Expenditures, Public |x Econometric models. |2 fast |0 (OCoLC)fst00918354 | |
| 650 | 7 | |a Fiscal policy |x Econometric models. |2 fast |0 (OCoLC)fst00925810 | |
| 650 | 7 | |a Government spending policy |x Econometric models. |2 fast |0 (OCoLC)fst00945620 | |
| 650 | 7 | |a Monetary policy |x Econometric models. |2 fast |0 (OCoLC)fst01025234 | |
| 651 | 7 | |a Developed countries. |2 fast |0 (OCoLC)fst01294462 | |
| 655 | 0 | |a Electronic books. | |
| 700 | 1 | |a Lonkeng Ngouana, Constant. | |
| 710 | 2 | |a International Monetary Fund. |b Fiscal Affairs Department. | |
| 776 | 0 | 8 | |a Print Version: |z 9781513572185 |
| 830 | 0 | |a IMF working paper ; |v WP/15/114. | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2015/114/001.2015.issue-114-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HG3881.5.I58W67 No. 15/114eb |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2015/114/001.2015.issue-114-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12148811 | ||