Is the supermultiplier nil? A replication study of Deleidi and Mazzucato (2021)

Arbeitspapier

Analyzing US macro data via a structural vector-autoregressive model, Deleidi and Mazzucato (2021) find strong positive spillover of mission-oriented government spending on private research and development activity and on overall economic dynamism ("crowding in"). However the result hinges on specific transformation of the data. Deleidi and Mazzucato deflate all variables in their model via the GDP deflator. Applying originally price adjusted data a spillover on GDP cannot be found. Estimating the model with data starting in 1984, the results point at 'crowding out' of private research and development activity.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Kiel Working Paper ; No. 2250

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models ; Investment; Capital; Intangible Capital; Capacity ; Fiscal Policy ; Industrial Policy ; Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
• Thema: Replcation study ; Mission oriented innovation policies ; Fiscal multiplier ; Sraffian supermultiplier

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Boysen-Hogrefe, Jens
• Ereignis: Veröffentlichung
• (wer): Kiel Institute for the World Economy (IfW Kiel)
• (wo): Kiel
• (wann): 2023

Weitere Informationen

• Handle: http://hdl.handle.net/10419/273079
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ