The Consumption Multiplier of Government Spending : The Role of Substitutability between Government Spending and Leisure

Eguchi, Masataka; Hosoya, Yuhki; Yamada, Mai

Institute of Social and Economic Research Discussion Papers, 2023, 1211, 1-18

アクセス数:534件（2026-07-13 05:42 集計）

固定URL: https://hdl.handle.net/11094/92467

論文情報

ファイル出力 EndNote Basic出力 Mendeley出力

タイトル
The Consumption Multiplier of Government Spending : The Role of Substitutability between Government Spending and Leisure
著者
NRID
1000040600507 1000040600507
著者名
Eguchi, Masataka
NRID
1000030383954 1000030383954
著者名
Hosoya, Yuhki
NRID
1000070757450 1000070757450
著者名
Yamada, Mai
キーワード等
Fiscal multiplier
Non-separable preferences
Substitutability
抄録
It has been empirically observed that consumption responds positively to government spending shock, however, existing models with intertemporally-optimizing households do not easily reconcile this stylized fact. This paper aims to address this discrepancy between models and data, focusing on the non-separable preferences with respect to consumption, leisure, and government spending. We derive conditions for a positive consumption multiplier under the general utility function and find that consumption can respond positively when leisure and government spending are substitutes. Examples of government spending that would have such an effect include care for children and the elderly, education spending, highway and public transportation.
出版者
The Institute of Social and Economic Research, Osaka University
収録物名
Institute of Social and Economic Research Discussion Papers
巻(号)
1211
ページ
1-18
刊行年月
2023-08
言語
英語
ハンドルURL
https://hdl.handle.net/11094/92467
PISSN
0473453X
eISSN
24350982
関連情報 (references)
URI
https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2023/DP1211.pdf
アクセス権
metadata only access
カテゴリ
ディスカッション／ワーキング・ペーパー DP/WP
Institute of Social and Economic Research Discussion Papers