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Replication data for: Are Government Spending Multipliers Greater during Periods of Slack? Evidence from Twentieth-Century Historical Data

Version
1
Resource Type
Dataset
Creator
  • Owyang, Michael T.
  • Ramey, Valerie A.
  • Zubairy, Sarah
Publication Date
2013-05-01
Description
  • Abstract

    A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data covering multiple large wars and depressions in the United States and Canada. Using Jorda's (2005) method for estimating impulse responses, we find no evidence that multipliers are greater during periods of high unemployment in the United States. In every case, they are below unity. We do find evidence of higher multipliers during periods of slack in Canada, with some multipliers above unity.
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.103.3.129 (Text)
Publications
  • Owyang, Michael T, Valerie A Ramey, and Sarah Zubairy. “Are Government Spending Multipliers Greater during Periods of Slack? Evidence from Twentieth-Century Historical Data.” American Economic Review 103, no. 3 (May 2013): 129–34. https://doi.org/10.1257/aer.103.3.129.
    • ID: 10.1257/aer.103.3.129 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Owyang, Michael T.; Ramey, Valerie A.; Zubairy, Sarah (2013): Replication data for: Are Government Spending Multipliers Greater during Periods of Slack? Evidence from Twentieth-Century Historical Data. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112611V1