The Households Effects of Government Consumption

Francesco Giavazzi, Michael McMahon

NBER Working Paper No. 17837
Issued in February 2012

---- Acknowledgments ----

This manuscript has been prepared for the NBER "Fiscal Policy After the Crisis" conference to be held in Milan in December 2011. We are especially grateful to Jon Steinsson for making available the military procurement data, and to Larry Christiano for his discussion of the paper. We are grateful also for comments received from other participants at both the pre-conference held at the NBER Summer Institute, in July 2011 and the main conference in Milan in December. Any remaining errors are those of the authors. 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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