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, …
PublishedJournal of Monetary EconomicsPublished Sep 2025
A central debate in fiscal policy is whether fiscal rules—numerical constraints on budget deficits or debt levels—impair a government's ability to respond to adverse economic shocks, creating a …
PublishedReview of Economic StudiesOnline 6 Nov 2025Published Jul 2026
This paper estimates the distributional and social consequences of Department of Defense (DOD) contract spending using a city-level (CBSA) panel dataset spanning 2005–2016. The research question is …