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.
A tibble with 248 quarterly observations (rows) and 7 variables (columns):
Year of observation.
Quarter of observation.
Logs of real government (federal, state, and local) purchases (consumption and investment).
Logs of real government receipts of direct and indirect taxes net of transfers to businesses and individuals.
Logs of real gross domestic product.
7-quarter moving average growth rate of GDP.
Identified government spending shock. For details see Supplementary Appendix of Ramey and Zubairy (2018).
Sample: 1948:IV - 2008:IV
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.
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