A Kalman-smoother-based estimator applied to Swedish administrative data reveals a steep, convex negative gradient in the marginal propensity to consume with respect to cash-on-hand, from 0.7 to 0.3 across deciles.
Parker, Nicholas S
2 Pith papers cite this work, alongside 894 external citations. Polarity classification is still indexing.
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Aggregate fiscal variable G in IS-LM-BP is sufficient only under the restrictive condition that all instruments have identical marginal effects on output, otherwise composition-weighted multipliers are required.
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Identifying the MPC-Liquidity Gradient in High-Quality Data
A Kalman-smoother-based estimator applied to Swedish administrative data reveals a steep, convex negative gradient in the marginal propensity to consume with respect to cash-on-hand, from 0.7 to 0.3 across deciles.
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Fiscal Aggregation and the Limits of IS--LM--BP: Derivations, Aggregation Bias and Reproducible Adversarial Simulations
Aggregate fiscal variable G in IS-LM-BP is sufficient only under the restrictive condition that all instruments have identical marginal effects on output, otherwise composition-weighted multipliers are required.