| ag_data {lpirfs} | R Documentation |
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
https://www.journals.uchicago.edu/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.