Macroeconomic Effects from Government Purchases and Taxes
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For U.S. annual data that include WWII, the estimated multiplier for temporary defense spending is 0.4-0.5 contemporaneously and 0.6-0.7 over two years. If the change in defense spending is "permanent" (gauged by Ramey's defense-news variable), the multipliers are higher by 0.1-0.2. The estimated
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美国国家经济研究局创建时间：
2009-09-01
