Surveying theory, aggregate U.S. time-series evidence, and the newer cross-state/cross-locality literature on the government-spending multiplier, Ramey concludes that the multiplier for a temporary, …
This 2016 Handbook of Macroeconomics chapter by Valerie Ramey surveys how macroeconomists identify structural shocks to monetary policy, fiscal policy, and technology, and how those shocks propagate …
This 2001 NBER Macroeconomics Annual paper by Marvin Barth and Valerie Ramey tests whether monetary policy operates through a supply-side "cost channel" -- in which a monetary contraction raises …