Price discounts and cheapflation during the post-pandemic inflation surge: A comment
In: Journal of monetary economics, Band 148, S. 103661
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In: Journal of monetary economics, Band 148, S. 103661
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Working paper
In: NBER Working Paper No. w19148
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In: University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2019-102
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Working paper
In: Journal of political economy, Band 127, Heft 5, S. 2104-2142
ISSN: 1537-534X
In: Journal of political economy, Band 127, Heft 3, S. 1391-1436
ISSN: 1537-534X
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Working paper
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In: European economic review: EER, Band 103, S. 60-82
ISSN: 1873-572X
In: NBER Working Paper No. w23143
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In: NBER Working Paper No. w21732
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In: CESifo Working Paper Series No. 5607
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In: American economic review, Band 104, Heft 5, S. 112-115
ISSN: 1944-7981
We estimate how durable expenditures respond to government spending shocks at different points in the business cycle using a nonlinear VAR approach that allows for the durable multiplier to vary smoothly with the state of the economy. We find strong evidence that the aggregate durable spending response to fiscal shocks is substantially larger during expansions than during recessions, in contrast to what has been has been observed for the aggregate multiplier. We argue that these results are consistent with the theoretical predictions of the fixed cost model of durable demand in Berger and Vavra (2012).
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In: NBER Working Paper No. w20710
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Working paper