Identifying government spending shocks and multipliers in Korea
نویسندگان
چکیده
We construct a government spending news series in Korea based on Fisher and Peters (2010) by exploiting market-weighted sum of excess stock returns military contractors Korea. then use this estimate structural VAR model to evaluate the effects spending. As result, GDP show statistically significant responses shocks. The accumulated multiplier peaks after four quarters, five-year cumulative is calculated as 1.27. For robustness check, different types models are tested results qualitatively similar.
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ژورنال
عنوان ژورنال: Journal of Asian Economics
سال: 2021
ISSN: ['1049-0078', '1873-7927']
DOI: https://doi.org/10.1016/j.asieco.2021.101366