Public Consumption Over the Business Cycle

Ruediger Bachmann, Jinhui Bai

NBER Working Paper No. 17230
Issued in July 2011

---- Acknowledgements -----

We are grateful to conference/seminar participants at the 2011 Cologne Workshop on Macroeconomics, the IIES at Stockholm University, the 2011MidwestMacroMeeting, the 2011 SED meeting (Ghent) and the University of Pennsylvania as well as Per Krusell for their comments. We would also like to thank Liz Accetta from the Census Bureau for providing us with the historical data of the Annual Survey of State Government Finances, and JoshMontes for his excellent research assistance. The usual disclaimer applies. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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