Measuring the Output Responses to Fiscal Policy
---- Acknowledgements -----
This paper was presented at the NBER TAPES conference on Fiscal Policy, Varenna, June 14-16, 2010. We are grateful to Olivier Coibion, Lorenz Kueng, Alex Michaelides, Roberto Perotti, participants in the UC Berkeley Departmental Seminar and the NBER/IGIER TAPES conference and two anonymous referees for suggestions and comments on earlier drafts. This version corrects an accounting mistake and supersedes earlier versions of the paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.