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Replication data for: How Does the US Government Finance Fiscal Shocks?

Version
1
Resource Type
Dataset
Creator
  • Berndt, Antje
  • Lustig, Hanno
  • Yeltekin, Şevin
Publication Date
2012-01-01
Description
  • Abstract

    We develop a method for identifying and quantifying the fiscal channels that help finance government spending shocks. We define fiscal shocks as surprises in defense spending and show that they are more precisely identified when defense stock data are used in addition to aggregate macroeconomic data. Our results show that in the postwar period, about 9 percent of the US government's unanticipated spending needs were financed by a reduction in the market value of debt and more than 70 percent by an increase in primary surpluses. Additionally, we find that long-term debt is more effective at absorbing fiscal risk than short-term debt. (JEL E62, H56, and H63)
Availability
Download
Relations
  • Is supplement to
    DOI: 10.1257/mac.4.1.69 (Text)
Publications
  • Berndt, Antje, Hanno Lustig, and Sevin Yeltekin. “How Does The US Government Finance Fiscal Shocks?” American Economic Journal: Macroeconomics 4, no. 1 (January 2012): 69–104. https://doi.org/10.1257/mac.4.1.69.
    • ID: 10.1257/mac.4.1.69 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-13

Berndt, Antje; Lustig, Hanno; Yeltekin, Şevin (2012): Replication data for: How Does the US Government Finance Fiscal Shocks?. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E114239V1