Do government spending multipliers depend on the level of government debt? US historical data evidence

Wongi Kim

Applied Economics Letters, 2015, vol. 22, issue 8, 668-672

Abstract: This article examines state-dependent effects of government debt on government spending multipliers. For the estimation, a new quarterly US historical debt series is constructed. The empirical findings reveal that effects of government spending on the economy as well as the estimated multipliers significantly differ by the level of debt.

Date: 2015
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DOI: 10.1080/13504851.2014.967376

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