Taking off into the wind: Unemployment risk and state-Dependent government spending multipliers☆
Keywords
Government spending
Multipliers
Precautionary saving
State dependence
Unemployment risk
JEL classification
D52
E21
E62
Cited by (0)
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We thank the editor, Yuriy Gorodnichenko, as well as an anonymous referee for comments that greatly improved the paper. We also thank Sehyoun Ahn, Paul Beaudry, Florin Bilbiie, Giacomo Candian, Marco Cozzi, Mick Devereux, Giovanni Gallipoli, François Langot, Pascal Michaillat, Pierre-Carl Michaud, Makoto Nakajima, Jordan Roulleau-Pasdeloup, Romanos Priftis, Rigas Oikonomou, Xavier Ragot, and seminar participants at the OFCE, the University of Le Mans, the University of Lausanne, the University of British Columbia, and the University of Ottawa for helpful comments and suggestions. Financial support from the FRQSC and the HEC Montr éal Foundation is gratefully acknowledged.
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