题目: Components of Government Spending Over the Business Cycle
主讲人: 周子彭
时间：2015年12月2日（周三）下午1:30
地点：国际经管学院会议室（诚明楼三层）
主办方：国际经济管理学院
摘要:
The business cycle properties of government spending differ across its components. This paper explores the cyclical movement of government spending components as a result of endogenous responses to exogenous private sector and government sector productivity shocks, and quantifies the relative contributions of these shocks to component volatility. A framework is developed based on a two-sector neoclassical model where a public consumption good is provided through a government production process. Implementation lags and adjustment costs for government spending or its components are included to better capture the business cycle features of the U.S. government. General government and state and local government are analyzed separately to verify the robustness of the model. Simulating the model shows that the model does a good job of accounting for the business cycle dynamics of government spending components. It also reveals that different government spending components respond differently to private and government productivity shocks. In particular, state and local government spending components are affected more by private productivity shocks.
主讲人简介：周子彭，国际经管学院助理教授，博士毕业于美国Georgetown University，主要研究方向为宏观经济学。
