ag_data: Data to estimate fiscal multipliers

In lpirfs: Local Projections Impulse Response Functions

Data to estimate fiscal multipliers

Description

A tibble, containing data to estimate fiscal multipliers. This data was originally used by Auerbach and Gorodnichenko (2012). Sarah and Zubairy (2018) use this data to re-evaluate their results with local projections.

Usage

ag_data

Format

A tibble with 248 quarterly observations (rows) and 7 variables (columns):

Year

Year of observation.

Quarter

Quarter of observation.

Gov

Logs of real government (federal, state, and local) purchases (consumption and investment).

Tax

Logs of real government receipts of direct and indirect taxes net of transfers to businesses and individuals.

GDP

Logs of real gross domestic product.

GDP_MA

7-quarter moving average growth rate of GDP.

Gov_shock_mean

Identified government spending shock. For details see Supplementary Appendix of Ramey and Zubairy (2018).

Sample: 1948:IV - 2008:IV

Source

\Sexpr[results=rd]{tools:::Rd_expr_doi("10.1086/696277")}

References

Auerbach, A. J., and Gorodnichenko Y. (2012). "Measuring the Output Responses to Fiscal Policy." American Economic Journal: Economic Policy, 4 (2): 1-27.

Jordà, Ò. (2005) "Estimation and Inference of Impulse Responses by Local Projections." American Economic Review, 95 (1): 161-182.

Ramey, V.A., Zubairy, S. (2018). "Government Spending Multipliers in Good Times and in Bad: Evidence from US Historical Data." Journal of Political Economy, 126(2): 850 - 901.

lpirfs documentation built on April 4, 2025, 1:36 a.m.