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|Title:||Local Government Spending Multipliers and Financial Distress: Evidence from Japanese Prefectures|
|Authors:||Brückner, M. |
|Source:||Brückner, M., Tuladhar, A. (2013). Local Government Spending Multipliers and Financial Distress: Evidence from Japanese Prefectures. Economic Journal. ScholarBank@NUS Repository. https://doi.org/10.1111/ecoj.12076|
|Abstract:||We estimate local government spending multipliers using annual data for 47 Japanese prefectures during the 1990s. Our main findings are as follows: the average local government spending multiplier is positive and significantly different from zero but not larger than one; there are large and significant differences in the output effects of different types of government expenditures: transfers to firms have the highest multiplier, significantly larger than one, while transfers to households have the lowest multiplier, significantly below zero; firms' financial distress has a significant negative effect on the local government spending multiplier, in contrast to economic slack that has a significant positive effect. © 2013 Royal Economic Society.|
|Source Title:||Economic Journal|
|Appears in Collections:||Staff Publications|
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