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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Kiel Working Paper ; No. 2250

Classification and Topics

• Classification: 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
• Subject: Replcation study ; Mission oriented innovation policies ; Fiscal multiplier ; Sraffian supermultiplier

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Boysen-Hogrefe, Jens
• Event: Veröffentlichung
• (who): Kiel Institute for the World Economy (IfW Kiel)
• (where): Kiel
• (when): 2023

Further information

• Handle: http://hdl.handle.net/10419/273079
• Last update: 10.03.2025, 11:42 AM CET