Big G
“Big G” typically refers to aggregate government spending on a homogeneous good. We confront this notion with five facts for the universe of federal purchases. First, they are volatile and account for the largest part of the short-run variation in total spending. Second, the origin of their variatio...
Gespeichert in:
| Veröffentlicht in: | The Journal of political economy 2024-10, Vol.132 (10), p.3260-3297 |
|---|---|
| Hauptverfasser: | , , , , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 3297 |
|---|---|
| container_issue | 10 |
| container_start_page | 3260 |
| container_title | The Journal of political economy |
| container_volume | 132 |
| creator | Cox, Lydia Müller, Gernot J. Pastén, Ernesto Schoenle, Raphael Weber, Michael |
| description | “Big G” typically refers to aggregate government spending on a homogeneous good. We confront this notion with five facts for the universe of federal purchases. First, they are volatile and account for the largest part of the short-run variation in total spending. Second, the origin of their variation is granular. Third, purchases are subject to procurement and bidding. Fourth, they are concentrated in long-term contracts. Fifth, their composition is biased toward sectors in which private sector prices are sticky. We develop a two-sector New Keynesian model consistent with these facts and find where the government spends is key for aggregate effects. |
| doi_str_mv | 10.1086/730426 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_econi</sourceid><recordid>TN_cdi_proquest_journals_3108250096</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>3108250096</sourcerecordid><originalsourceid>FETCH-LOGICAL-c268t-9e2c8fb74d7e35908d4adb2994ad148533d6d7fae32d29e2e5a1d258ed702a8f3</originalsourceid><addsrcrecordid>eNpFz8FKAzEQBuAgFlyrPkNB8bY6mdlskqOWWoWCFwVvIU2ydYt216R78O2NbKFz-S8fM_MzdsXhjoOq7yVBhfUJK7ggWQqqPk5ZAYBYkgJ1xs5T2kIeDlSwyWO7mS0v2KSxXylcHnLK3p8Wb_PncvW6fJk_rEqHtdqXOqBTzVpWXgYSGpSvrF-j1jl4pQSRr71sbCD0mHEQlnsUKngJaFVDU3Y97u1j9zOEtDfbboi7fNJQ_h0FgK6zuh2Vi11KMTSmj-23jb-Gg_mvaMaKGc5GGFy3a9ORac41Cq10JjcjGdxn6-ym62NI6Xj2sOkPlXhWDA</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>3108250096</pqid></control><display><type>article</type><title>Big G</title><source>University of Chicago Press Journals (Full run)</source><creator>Cox, Lydia ; Müller, Gernot J. ; Pastén, Ernesto ; Schoenle, Raphael ; Weber, Michael</creator><creatorcontrib>Cox, Lydia ; Müller, Gernot J. ; Pastén, Ernesto ; Schoenle, Raphael ; Weber, Michael</creatorcontrib><description>“Big G” typically refers to aggregate government spending on a homogeneous good. We confront this notion with five facts for the universe of federal purchases. First, they are volatile and account for the largest part of the short-run variation in total spending. Second, the origin of their variation is granular. Third, purchases are subject to procurement and bidding. Fourth, they are concentrated in long-term contracts. Fifth, their composition is biased toward sectors in which private sector prices are sticky. We develop a two-sector New Keynesian model consistent with these facts and find where the government spends is key for aggregate effects.</description><identifier>ISSN: 0022-3808</identifier><identifier>EISSN: 1537-534X</identifier><identifier>DOI: 10.1086/730426</identifier><language>eng</language><publisher>Chicago: The University of Chicago Press</publisher><subject>Branche ; Dauer ; Government spending ; Inflation ; Multiplikator ; Neoklassische Synthese ; Preisrigidität ; Prices ; Private sector ; Systematischer Fehler ; USA ; Verdrängungseffekt ; Öffentlicher Auftrag</subject><ispartof>The Journal of political economy, 2024-10, Vol.132 (10), p.3260-3297</ispartof><rights>2024 The University of Chicago. All rights reserved.</rights><rights>Copyright University of Chicago, acting through its Press Oct 2024</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c268t-9e2c8fb74d7e35908d4adb2994ad148533d6d7fae32d29e2e5a1d258ed702a8f3</citedby><cites>FETCH-LOGICAL-c268t-9e2c8fb74d7e35908d4adb2994ad148533d6d7fae32d29e2e5a1d258ed702a8f3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.journals.uchicago.edu/doi/pdf/10.1086%2F730426$$EPDF$$P50$$Guchicagopress$$H</linktopdf><linktohtml>$$Uhttps://www.journals.uchicago.edu/doi/full/10.1086%2F730426$$EHTML$$P50$$Guchicagopress$$H</linktohtml><link.rule.ids>314,777,781,27905,27906,54000,54004</link.rule.ids></links><search><creatorcontrib>Cox, Lydia</creatorcontrib><creatorcontrib>Müller, Gernot J.</creatorcontrib><creatorcontrib>Pastén, Ernesto</creatorcontrib><creatorcontrib>Schoenle, Raphael</creatorcontrib><creatorcontrib>Weber, Michael</creatorcontrib><title>Big G</title><title>The Journal of political economy</title><description>“Big G” typically refers to aggregate government spending on a homogeneous good. We confront this notion with five facts for the universe of federal purchases. First, they are volatile and account for the largest part of the short-run variation in total spending. Second, the origin of their variation is granular. Third, purchases are subject to procurement and bidding. Fourth, they are concentrated in long-term contracts. Fifth, their composition is biased toward sectors in which private sector prices are sticky. We develop a two-sector New Keynesian model consistent with these facts and find where the government spends is key for aggregate effects.</description><subject>Branche</subject><subject>Dauer</subject><subject>Government spending</subject><subject>Inflation</subject><subject>Multiplikator</subject><subject>Neoklassische Synthese</subject><subject>Preisrigidität</subject><subject>Prices</subject><subject>Private sector</subject><subject>Systematischer Fehler</subject><subject>USA</subject><subject>Verdrängungseffekt</subject><subject>Öffentlicher Auftrag</subject><issn>0022-3808</issn><issn>1537-534X</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2024</creationdate><recordtype>article</recordtype><recordid>eNpFz8FKAzEQBuAgFlyrPkNB8bY6mdlskqOWWoWCFwVvIU2ydYt216R78O2NbKFz-S8fM_MzdsXhjoOq7yVBhfUJK7ggWQqqPk5ZAYBYkgJ1xs5T2kIeDlSwyWO7mS0v2KSxXylcHnLK3p8Wb_PncvW6fJk_rEqHtdqXOqBTzVpWXgYSGpSvrF-j1jl4pQSRr71sbCD0mHEQlnsUKngJaFVDU3Y97u1j9zOEtDfbboi7fNJQ_h0FgK6zuh2Vi11KMTSmj-23jb-Gg_mvaMaKGc5GGFy3a9ORac41Cq10JjcjGdxn6-ym62NI6Xj2sOkPlXhWDA</recordid><startdate>20241001</startdate><enddate>20241001</enddate><creator>Cox, Lydia</creator><creator>Müller, Gernot J.</creator><creator>Pastén, Ernesto</creator><creator>Schoenle, Raphael</creator><creator>Weber, Michael</creator><general>The University of Chicago Press</general><general>University of Chicago, acting through its Press</general><scope>OQ6</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>20241001</creationdate><title>Big G</title><author>Cox, Lydia ; Müller, Gernot J. ; Pastén, Ernesto ; Schoenle, Raphael ; Weber, Michael</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c268t-9e2c8fb74d7e35908d4adb2994ad148533d6d7fae32d29e2e5a1d258ed702a8f3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2024</creationdate><topic>Branche</topic><topic>Dauer</topic><topic>Government spending</topic><topic>Inflation</topic><topic>Multiplikator</topic><topic>Neoklassische Synthese</topic><topic>Preisrigidität</topic><topic>Prices</topic><topic>Private sector</topic><topic>Systematischer Fehler</topic><topic>USA</topic><topic>Verdrängungseffekt</topic><topic>Öffentlicher Auftrag</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Cox, Lydia</creatorcontrib><creatorcontrib>Müller, Gernot J.</creatorcontrib><creatorcontrib>Pastén, Ernesto</creatorcontrib><creatorcontrib>Schoenle, Raphael</creatorcontrib><creatorcontrib>Weber, Michael</creatorcontrib><collection>ECONIS</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>The Journal of political economy</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Cox, Lydia</au><au>Müller, Gernot J.</au><au>Pastén, Ernesto</au><au>Schoenle, Raphael</au><au>Weber, Michael</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Big G</atitle><jtitle>The Journal of political economy</jtitle><date>2024-10-01</date><risdate>2024</risdate><volume>132</volume><issue>10</issue><spage>3260</spage><epage>3297</epage><pages>3260-3297</pages><issn>0022-3808</issn><eissn>1537-534X</eissn><abstract>“Big G” typically refers to aggregate government spending on a homogeneous good. We confront this notion with five facts for the universe of federal purchases. First, they are volatile and account for the largest part of the short-run variation in total spending. Second, the origin of their variation is granular. Third, purchases are subject to procurement and bidding. Fourth, they are concentrated in long-term contracts. Fifth, their composition is biased toward sectors in which private sector prices are sticky. We develop a two-sector New Keynesian model consistent with these facts and find where the government spends is key for aggregate effects.</abstract><cop>Chicago</cop><pub>The University of Chicago Press</pub><doi>10.1086/730426</doi><tpages>38</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0022-3808 |
| ispartof | The Journal of political economy, 2024-10, Vol.132 (10), p.3260-3297 |
| issn | 0022-3808 1537-534X |
| language | eng |
| recordid | cdi_proquest_journals_3108250096 |
| source | University of Chicago Press Journals (Full run) |
| subjects | Branche Dauer Government spending Inflation Multiplikator Neoklassische Synthese Preisrigidität Prices Private sector Systematischer Fehler USA Verdrängungseffekt Öffentlicher Auftrag |
| title | Big G |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-18T06%3A26%3A02IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_econi&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Big%20G&rft.jtitle=The%20Journal%20of%20political%20economy&rft.au=Cox,%20Lydia&rft.date=2024-10-01&rft.volume=132&rft.issue=10&rft.spage=3260&rft.epage=3297&rft.pages=3260-3297&rft.issn=0022-3808&rft.eissn=1537-534X&rft_id=info:doi/10.1086/730426&rft_dat=%3Cproquest_econi%3E3108250096%3C/proquest_econi%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=3108250096&rft_id=info:pmid/&rfr_iscdi=true |