Cyclical Effects of the Composition of Government Purchases /

This paper constructs a general equilibrium model with monopolistically competitive firms and endogenous markups where government spending consists of both consumption and investment goods. It is shown that when markups are countercyclical, increases in the share of investment goods in aggregate gov...

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Автор: Aziz, Jahangir
Інші автори: Leruth, Luc
Формат: Журнал
Мова:English
Опубліковано: Washington, D.C. : International Monetary Fund, 1997.
Серія:IMF Working Papers; Working Paper ; No. 1997/019
Онлайн доступ:Full text available on IMF
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100 1 |a Aziz, Jahangir. 
245 1 0 |a Cyclical Effects of the Composition of Government Purchases /  |c Jahangir Aziz, Luc Leruth. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1997. 
300 |a 1 online resource (38 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper constructs a general equilibrium model with monopolistically competitive firms and endogenous markups where government spending consists of both consumption and investment goods. It is shown that when markups are countercyclical, increases in the share of investment goods in aggregate government expenditure entail a trade-off between greater long- run efficiency and higher short-run volatility. Estimates based on the model, calibrated to the postwar U.S. economy, show that the effects on output, employment, and welfare can be significant. 
538 |a Mode of access: Internet 
700 1 |a Leruth, Luc. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1997/019 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1997/019/001.1997.issue-019-en.xml  |z IMF e-Library