LEARNING AND THE SIZE OF THE GOVERNMENT SPENDING MULTIPLIER – ERRATUM

Ewoud Quaghebeur

Macroeconomic Dynamics, 2020, vol. 24, issue 6, 1595-1595

Abstract: Table 4 of this article was incorrectly published with subheadings in Table 4 missing. The publisher regrets this error and the correct version of Table 4 is presented here. Table 4.Present-value multipliers for different specifications of fiscal policy in the new Keynesian model with rational expectations and with adaptive learningRational expectationsAdaptive learningImpact1 year4 years6 yearsImpact1 year4 years6 yearsStrategy 1: Lump-sum financing (baseline model)$\frac{{PV\left( {\Delta Y} \right)}}{{PV\left( {\Delta G} \right)}}\$0.510.500.460.431.011.000.990.97$\frac{{PV\left( {\Delta C} \right)}}{{PV\left( {\Delta G} \right)}}\$−0.29−0.30−0.34−0.370.090.090.070.06$\frac{{PV\left( {\Delta I} \right)}}{{PV\left( {\Delta G} \right)}}\$−0.20−0.20−0.20−0.20−0.08−0.08−0.09−0.09Strategy 2: Capital tax financing$\frac{{PV\left( {\Delta Y} \right)}}{{PV\left( {\Delta G} \right)}}\$0.320.290.120.020.430.380.200.08$\frac{{PV\left( {\Delta C} \right)}}{{PV\left( {\Delta G} \right)}}\$−0.23−0.26−0.40−0.48−0.08−0.12−0.27−0.37$\frac{{PV\left( {\Delta I} \right)}}{{PV\left( {\Delta G} \right)}}\$−0.68−0.69−0.70−0.71−0.80−0.80−0.81−0.82Strategy 3: Labor tax financing$\frac{{PV\left( {\Delta Y} \right)}}{{PV\left( {\Delta G} \right)}}\$−0.64−0.68−0.85−0.950.480.470.430.40$\frac{{PV\left( {\Delta C} \right)}}{{PV\left( {\Delta G} \right)}}\$−1.07−1.10−1.24−1.33−0.37−0.38−0.41−0.43$\frac{{PV\left( {\Delta I} \right)}}{{PV\left( {\Delta G} \right)}}\$−0.71−0.71−0.73−0.74−0.17−0.18−0.18−0.18Note: See main text for a description of the different financing strategies.

Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:macdyn:v:24:y:2020:i:6:p:1595-1595_10

Access Statistics for this article

More articles in Macroeconomic Dynamics from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().