scholarly journals Geographic Cross-Sectional Fiscal Spending Multipliers: What Have We Learned?

2019 ◽  
Vol 11 (2) ◽  
pp. 1-34 ◽  
Author(s):  
Gabriel Chodorow-Reich

A geographic cross-sectional fiscal spending multiplier measures the effect of an increase in spending in one region of a monetary union. Empirical studies of such multipliers have proliferated. I review this research and what the evidence implies for national multipliers. Based on an updated analysis of the ARRA and a survey of empirical studies, my preferred point estimate for a cross-sectional multiplier is 1.8. The paper also discusses conditions under which the cross-sectional multiplier provides a rough lower bound for the national, no-monetary-policy-response multiplier. Putting these elements together, the cross-sectional evidence suggests a national no-monetary-policy-response multiplier of 1.7 or above. (JEL E32, E52, E62, H54, H76, R53)

2013 ◽  
Vol 6 (2) ◽  
pp. 213-236 ◽  
Author(s):  
Paolo Dardanelli

To what extent and in what way does European integration fuel state restructuring? This is a long-standing but still not a fully answered question. While the theoretical literature suggests a positive link between the two, previous empirical studies have reached contrasting conclusions. The article offers an alternative testing of the proposition, centred on the role of party strategies as a causal mechanism, analysed across space and time. On the cross-sectional axis, it focusses on parties in Flanders and Wallonia (Belgium), Lombardy and Sicily (Italy), Catalonia and Andalusia (Spain), and Scotland and Wales (United Kingdom). On the cross-temporal axis, it focuses on four critical junctures connecting integration and state restructuring. It analyses the degree to which ‘Europe’ has been strategically used in connection to state restructuring and which conditions have been necessary and/or sufficient to that outcome. The analysis has been conducted on the basis of a Qualitative Comparative Analysis methodology. Five main results emerge: (1) overall, parties have generally exploited ‘Europe’ in connection with state restructuring to a limited extent only but in a few cases exploitation has been very intense and intimately linked to strategic turning points; (2) ‘Europe’ has overwhelmingly been used to support state restructuring; (3) the most intense use has been made by regional parties with a secessionist position and positive attitude to the EU; (4) ‘use of Europe’ is a product of a complex conjunctural effect of several conditions; (5) it has increased over time but is not a linear product of integration, a sharp drop can be observed between the two most recent time points. These findings show that European integration can indeed exercise causal influence upon state restructuring via party strategies but that this is highly contingent on the complex interaction of multiple factors.


FEDS Notes ◽  
2021 ◽  
Vol 2021 (2786) ◽  
Author(s):  
Deepa D. Datta ◽  
◽  
Benjamin K. Johannsen ◽  
Robert J. Vigfusson ◽  
◽  
...  

We analyze the recent behavior of oil and equity prices in the context of our earlier work, Datta, et al. (2021), which focuses on the previous zero lower bound (ZLB) episode, in the aftermath of the Global Financial Crisis. We find that the correlation between oil and equity returns and the responsiveness of these returns to macroeconomic surprises are perhaps elevated relative to normal times but somewhat moderated relative to the previous ZLB episode.


Author(s):  
J.-F. Revol ◽  
Y. Van Daele ◽  
F. Gaill

The only form of cellulose which could unequivocally be ascribed to the animal kingdom is the tunicin that occurs in the tests of the tunicates. Recently, high-resolution solid-state l3C NMR revealed that tunicin belongs to the Iβ form of cellulose as opposed to the Iα form found in Valonia and bacterial celluloses. The high perfection of the tunicin crystallites led us to study its crosssectional shape and to compare it with the shape of those in Valonia ventricosa (V.v.), the goal being to relate the cross-section of cellulose crystallites with the two allomorphs Iα and Iβ.In the present work the source of tunicin was the test of the ascidian Halocvnthia papillosa (H.p.). Diffraction contrast imaging in the bright field mode was applied on ultrathin sections of the V.v. cell wall and H.p. test with cellulose crystallites perpendicular to the plane of the sections. The electron microscope, a Philips 400T, was operated at 120 kV in a low intensity beam condition.


Author(s):  
Nur Widiastuti

The Impact of monetary Policy on Ouput is an ambiguous. The results of previous empirical studies indicate that the impact can be a positive or negative relationship. The purpose of this study is to investigate the impact of monetary policy on Output more detail. The variables to estimatate monetery poicy are used state and board interest rate andrate. This research is conducted by Ordinary Least Square or Instrumental Variabel, method for 5 countries ASEAN. The state data are estimated for the period of 1980 – 2014. Based on the results, it can be concluded that the impact of monetary policy on Output shown are varied.Keyword: Monetary Policy, Output, Panel Data, Fixed Effects Model


2017 ◽  
pp. 62-74 ◽  
Author(s):  
P. Kartaev

The paper presents an overview of studies of the effects of inflation targeting on long-term economic growth. We analyze the potential channels of influence, as well as modern empirical studies that test performance of these channels. We compare the effects of different variants of inflation targeting (strict and mixed). Based on the analysis recommendations on the choice of optimal (in terms of stimulating long-term growth) regime of monetary policy in developed and developing economies are formulated.


1960 ◽  
Vol 19 (3) ◽  
pp. 803-809
Author(s):  
D. J. Matthews ◽  
R. A. Merkel ◽  
J. D. Wheat ◽  
R. F. Cox

2018 ◽  
Author(s):  
Sang Hoon Lee ◽  
Jeff Blackwood ◽  
Stacey Stone ◽  
Michael Schmidt ◽  
Mark Williamson ◽  
...  

Abstract The cross-sectional and planar analysis of current generation 3D device structures can be analyzed using a single Focused Ion Beam (FIB) mill. This is achieved using a diagonal milling technique that exposes a multilayer planar surface as well as the cross-section. this provides image data allowing for an efficient method to monitor the fabrication process and find device design errors. This process saves tremendous sample-to-data time, decreasing it from days to hours while still providing precise defect and structure data.


Sign in / Sign up

Export Citation Format

Share Document