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Excess Capacity and Heterogeneity in the Fiscal Multiplier: Evidence from the Obama Stimulus Package
Capacity Heterogeneity
2015/9/21
We estimate local multipliers from the ARRA (Obama stimulus) bill using cross-county variation
in expenditure. We use within-state variation, and include other demographic controls as well
as a pred...
Using subjective income expectations to test for excess sensitivity of consumption to predicted income growth
Subjective expectations Precautionary saving
2015/7/23
We test for precautionary saving and excess sensitivity of consumption to predicted
income growth using a 1989}1993 panel survey of Italian households that has measures
of subjective income and in#a...
Status effects,public goods provision,and excess burden
Status effects Excess burden Deadweight loss Public goods provision Corrective taxation Consumption externality First best Second best
2015/7/17
Most studies of the optimal provision of public goods or the excess burden from taxation assume that individual utility is independent of other individuals' consumption. This paper investigates public...