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Keywords:Expenditures, Public 

Journal Article
How does an increase in government purchases affect economy?

This article studies the impact on aggregate economic activity of increases in defense purchases which are unrelated to other developments in the economy. The authors use empirical evidence to evaluate the predictions of several prominent models.
Economic Perspectives , Volume 22 , Issue Q III , Pages 29-43

Journal Article
State and local government spending: measurement and interpretation

Cross Sections , Issue Fall , Pages 4-6

Working Paper
The dynamic effects of government spending shocks on employment and work hours

In this paper, we analyze the dynamic behavior of employment and hours worked per worker in a stochastic general equilibrium model with a matching mechanism between vacancies and unemployed workers. The model is estimated for the U.S. using the Generalized Methods of Moments (GMM) estimation technique. An increase in government spending raises hours worked per worker, and crowds out private consumption due to a negative wealth effect. On the path converging towards the steady state, private consumption is below its long run average and increases, which implies that the interest rate is above ...
Working Paper , Paper 98-09

Journal Article
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections?

When the government runs a deficit, it can borrow from the public?that is, it can create debt. Conversely, when the government runs a surplus, it can retire that debt. For the past three years, the federal government has recorded budget surpluses, and both the White House Office of Management and Budget and the Congressional Budget Office project that these surpluses will increase for at least the next decade. If these projections prove to be accurate, the $3.5 trillion of publicly held federal debt could be eliminated by around 2010. This article, which was written prior to the updated ...
Review , Volume 83 , Issue Mar , Pages 11-24

Report
The supply side consequences of U.S. fiscal policy in the 1980s

Research Paper , Paper 9129

Working Paper
Improving GDP measurement: a measurement-error perspective

We provide a new and superior measure of U.S. GDP, obtained by applying optimal signal-extraction techniques to the (noisy) expenditure-side and income-side estimates. Its properties -- particularly as regards serial correlation -- differ markedly from those of the standard expenditure-side measure and lead to substantially-revised views regarding the properties of GDP.
Working Papers , Paper 13-16

Journal Article
Production, income, and spending accelerate

Review , Volume 50 , Issue Feb , Pages 2-4

Working Paper
The welfare effects of distortionary taxation and government spending: some new results

Working Papers , Paper 90-9

Journal Article
Shortfall

FRBSF Economic Letter

Conference Paper
Variations on a theme: long-term growth of government

Proceedings

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