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Please use this identifier to cite or link to this item: http://hdl.handle.net/10928/142

Title: Macroeconomic Effects of Government Spending in Japan
Authors: Khai, Vu Tuan
Keywords: Government spending
Japanese economy
News shock
Sign restriction.
Issue Date: 20-Dec-2011
Publisher: 成蹊大学経済学部学会
Abstract: It is often recognized that government spending shocks are well anticipated before they actually materialize. This paper uses a new approach that is possible to identify a government spending shock as both an unanticipated and an anticipated (i.e. news) shock to study the macroeconomic effects of government spending in Japan. We find that, in the whole sample 1968Q1- 2010Q1, there is a clear difference between an unanticipated government spending shock and an anticipated one: the former significantly increases both GDP and consumption while the latter does not. We also find that government spending is effective in terms of simulating the economy in the pre-bubble period, but in the post-bubble period it is not and even aggravates the business cycle fluctuations at some horizons.
URI: http://hdl.handle.net/10928/142
Appears in Collections:第42巻第2号

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