The Effects of Government Purchases Shocks: Review and Estimates for the EU
回顾了政府购买冲击对封闭和开放经济的理论影响，并利用欧盟数据估计发现：政府购买增加会提升产出、消费和投资，但会恶化贸易平衡，且开放度越高的经济体刺激效果越弱、贸易逆差越大。
In this article, we review the theoretical consequences of government purchases shocks for both closed and open economies, followed by a discussion of the empirical literature. Next, we provide our own estimates for the EU countries. We find that an increase in government purchases raises output, consumption and investment and reduces the trade balance. However, the stimulating effect is weaker and the trade balance reduction is larger for the more open EU economies, consistent with larger leakage effects. Further, we show that government purchases shocks in large EU economies have non-negligible consequences for economic activity in the main trading partners.