Government investment and fiscal stimulus
成果类型：
Article
署名作者：
Leeper, Eric M.; Walker, Todd B.; Yang, Shu-Chun S.
署名单位：
Indiana University System; Indiana University Bloomington; National Bureau of Economic Research; International Monetary Fund
刊物名称：
JOURNAL OF MONETARY ECONOMICS
ISSN/ISSBN：
0304-3932
DOI：
10.1016/j.jmoneco.2010.09.002
发表日期：
2010
页码：
1000-1012
关键词：
摘要：
Effects of government investment are studied in an estimated neoclassical growth model The analysis focuses on two dimensions that are critical for understanding government investment as a fiscal stimulus implementation delays for building public capital and expected fiscal adjustments to deficit-financed spending Implementation delays can produce small or even negative labor and output responses to Increases in government investment in the short run Anticipated fiscal adjustments matter both quantitatively and qualitatively for long-run growth effects When public capital is insufficiently productive distorting financing can make government investment contractionary at longer horizons (C) 2010 Elsevier B V All rights reserved
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