Arbeitspapier
Does government spending crowd in private consumption? Theory and empirical evidence for the euro area
In this paper, we revisit the effects of government spending shocks on private consumption within an estimated New-Keynesian DSGE model of the euro area featuring non-Ricardian households. Employing Bayesian inference methods, we show that the presence of non-Ricardian households is in general conducive to raising the level of consumption in response to government spending shocks when compared with the benchmark specification without non-Ricardian households. However, we find that there is only a fairly small chance that government spending shocks crowd in consumption, mainly because the estimated share of non-Ricardian households is relatively low, but also due to the large negative wealth effect induced by the highly persistent nature of government spending shocks.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 513
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Fiscal Policy
- Thema
-
DSGE modelling
euro area
Fiscal Policy
non-Ricardian households
Öffentliche Ausgaben
Privater Konsum
Geldpolitik
Eurozone
Schock
Stochastischer Prozess
Dynamische Wirtschaftstheorie
Allgemeines Gleichgewicht
Theorie
EU-Staaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Coenen, Günter
Straub, Roland
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Coenen, Günter
- Straub, Roland
- European Central Bank (ECB)
Entstanden
- 2005
Ähnliche Objekte (12)
Does government spending crowd in private consumption? : theory and empirical evidence for the Euro area
Does government spending crowd out voluntary labor and donations?
Does government spending crowd out voluntary labor and donations?
Understanding the effects of government spending on consumption
Understanding the effects of government spending on consumption
Understanding the effects of government spending on consumption
Keynesian government spending multipliers and spillovers in the euro area
Keynesian government spending multipliers and spillovers in the Euro area
Keynesian government spending multipliers and spillovers in the euro area
Motivate the crowd or crowd-them out? The impact of local government spending on the voluntary provision of a green public good
Motivate the crowd or crowd- them out? The impact of local government spending on the voluntary provision of a green public good
Motivate the crowd or crowd-them out? The impact of local government spending on the voluntary provision of a green public good
Does government spending crowd in private consumption? : theory and empirical evidence for the Euro area
Does government spending crowd out voluntary labor and donations?
Does government spending crowd out voluntary labor and donations?
Understanding the effects of government spending on consumption
Understanding the effects of government spending on consumption
Understanding the effects of government spending on consumption
Keynesian government spending multipliers and spillovers in the euro area
Keynesian government spending multipliers and spillovers in the Euro area
Keynesian government spending multipliers and spillovers in the euro area
Motivate the crowd or crowd-them out? The impact of local government spending on the voluntary provision of a green public good
Motivate the crowd or crowd- them out? The impact of local government spending on the voluntary provision of a green public good
Motivate the crowd or crowd-them out? The impact of local government spending on the voluntary provision of a green public good
Does government spending crowd in private consumption? : theory and empirical evidence for the Euro area
Does government spending crowd out voluntary labor and donations?
Does government spending crowd out voluntary labor and donations?
Understanding the effects of government spending on consumption
Understanding the effects of government spending on consumption
Understanding the effects of government spending on consumption
Keynesian government spending multipliers and spillovers in the euro area
Keynesian government spending multipliers and spillovers in the Euro area
Keynesian government spending multipliers and spillovers in the euro area
Motivate the crowd or crowd-them out? The impact of local government spending on the voluntary provision of a green public good
Motivate the crowd or crowd- them out? The impact of local government spending on the voluntary provision of a green public good