Government Investment and Fiscal Stimulus in the Short and Long Runs

@inproceedings{Leeper2009GovernmentIA,
  title={Government Investment and Fiscal Stimulus in the Short and Long Runs},
  author={E M Leeper and Todd B. Walker and SHU-CHUN SUSAN YANG},
  year={2009}
}
This paper contributes to the debate about fiscal multipliers by studying the impacts of government investment in conventional neoclassical growth models. The analysis focuses on two dimensions of fiscal policy that are critical for understanding the effects of government investment: implementation delays associated with building public capital projects and expected future fiscal adjustments to debt-financed spending. Implementation delays can produce small or even negative labor and output… CONTINUE READING
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