Consumption, government spending, and the real exchange rate

Using panel structural VAR analysis and quarterly data from four industrialized countries, we document that an increase in government purchases raises output and private consumption, deteriorates the trade balance, and depreciates the real exchange rate. This pattern of comovement poses a puzzle for...

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Veröffentlicht in:	Journal of monetary economics 2012-04, Vol.59 (3), p.215-234
Hauptverfasser:	Ravn, Morten O., Schmitt-Grohé, Stephanie, Uribe, Martín
Format:	Artikel
Sprache:	eng
Schlagworte:	Balance of trade Consumption Developed countries Economic models Exchange rates Foreign exchange rates Government spending Household consumption Industrialized nations Production Public expenditure Studies Vector-autoregressive models
Online-Zugang:	Volltext
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