Article ID Journal Published Year Pages File Type
5060761 Economics Letters 2012 5 Pages PDF
Abstract
► State-local expenditures contain stable information to explain US inflation. ► These also explain a larger share of the forecast error variance (FEV) of US inflation than the federal funds rate (FFR). ► Non-defense federal expenditures help predict real output variations. ► From the 1980s, these explain more of the FEV of US real output than the FFR.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
An empirical investigation of US fiscal expenditures and macroeconomic outcomes
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