作者：Sims, Eric; Wolff, Jonathan
作者单位：University of Notre Dame; National Bureau of Economic Research; University System of Ohio; Miami University
摘要：This article studies the output and welfare effects of shocks to government spending in a medium-scale DSGE model. Our model considers both government consumption and investment and allows for a variety of fiscal financing mechanisms. We use the model to address several questions pertaining to the magnitude and state dependence of both the output and welfare effects of changes in government spending. Countercyclical government spending is undesirable as a general policy prescription, but we hi...
作者：Wrona, Jens
作者单位：Heinrich Heine University Dusseldorf
摘要：This article identifies a border effect in the absence of a border. The finding that trade between east and west Japan is 23.1% to 51.3% lower than trade within both country parts is established despite the absence of an obvious east-west division due to historical borders, cultural differences, or past civil wars. Postwar agglomeration processes, reflected by the contemporaneous structure of Japan's business and social networks, instead of cultural differences, induced by long-lasting histori...
