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• W2182036578 abstract "This paper analyses the role monetary and …scal policy shocks play in explaining US macroeconomic ‡uctuations using a Factor Augmented Vector Autoregression (FAVAR) framework. Identi…cation is achieved via the sign restrictions methodology as in Dungey and Fry (2009) and Fry and Pagan (2007), with the federal funds rate ordered last. Several …ndings emerge from this study. The impact of the government spending shock on output is longer lasting and explains more variability in macroeconomic variables compared to a government taxation revenue shock or monetary policy shock. There is also evidence of an increase in government spending crowding out private activity, leading to an" @default.
• W2182036578 created "2016-06-24" @default.
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• W2182036578 date "2012-01-01" @default.
• W2182036578 modified "2023-09-22" @default.
• W2182036578 title "How Do Monetary and Fiscal Policy Shocks Explain US Macroeconomic Fluctuations?-A" @default.
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