{
  "title": "Heterogeneous Spending, Heterogeneous Multipliers",
  "publication": "IMF Working Papers, March 10, 2023",
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  "summary": "Do local fiscal multipliers depend on what the government purchases? We find that government purchases of services have larger effects on employment than spending on goods. Industries producing services are more labor-intensive than industries producing goods.",
  "sections": [
    {
      "heading": "Authors and publication",
      "content": "- By Umberto Muratori, Pedro Juarros, Daniel Valderrama\n- March 10, 2023\n- IMF Working Papers, Working Paper No. 2023/052\n- Issue: 052\n- Volume: 2023\n- Pages: 50\n- DOI: https://doi.org/10.5089/9798400233777.001\n- ISBN: 9798400233777\n- ISSN: 1018-5941\n- Stock No: WPIEA2023052"
    },
    {
      "heading": "Research question and summary",
      "content": "- Core question: Do local fiscal multipliers depend on what the government purchases?\n- Summary finding: Government purchases of services have larger effects on employment than spending on goods.\n- Mechanism highlighted: Industries producing services are more labor-intensive than industries producing goods; this heterogeneity in labor intensity is an important mechanism behind the results.\n- Implication: Spending directed toward labor-intensive industries generates stronger increases in employment and labor income relative to spending toward non-labor-intensive industries."
    },
    {
      "heading": "Key findings (enumerated)",
      "content": "- Government purchases of services yield larger employment effects than government purchases of goods.\n- Industries producing services are more labor-intensive than industries producing goods.\n- Heterogeneity in labor intensity is an important mechanism driving heterogeneous local fiscal multipliers.\n- Spending targeted to labor-intensive industries produces stronger increases in employment and labor income than spending targeted to non-labor-intensive industries."
    },
    {
      "heading": "Subject and keywords",
      "content": "- Subject: Defense spending, Employment, Expenditure, Fiscal multipliers, Fiscal policy, Labor\n- Keywords: copyright page, Defense spending, Employment, Fiscal multipliers, goods spending, government purchase, Heterogeneous Local Fiscal Multipliers, heterogeneous multiplier, Labor Intensity, Services and Goods Spending, services spending"
    },
    {
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      "content": "- Format noted: PDF (Download PDF)\n- Citation example provided: Umberto Muratori, Pedro Juarros, and Daniel Valderrama. \"Heterogeneous Spending, Heterogeneous Multipliers\", IMF Working Papers 2023, 052 (2023), accessed 9/16/2026, https://doi.org/10.5089/9798400233777.001\n\nSource: Heterogeneous Spending, Heterogeneous Multipliers (IMF Working Paper No. 2023/052), March 10, 2023.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2023/03/10/heterogeneous-spending-heterogeneous-multipliers-530398"
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    "Authors: Umberto Muratori, Pedro Juarros, Daniel Valderrama",
    "Published: March 10, 2023",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400233777.001",
    "By Umberto Muratori, Pedro Juarros, Daniel Valderrama",
    "March 10, 2023",
    "IMF Working Papers, Working Paper No. 2023/052",
    "Issue: 052",
    "Volume: 2023",
    "Pages: 50",
    "DOI: https://doi.org/10.5089/9798400233777.001",
    "ISBN: 9798400233777",
    "ISSN: 1018-5941",
    "Stock No: WPIEA2023052",
    "Core question: Do local fiscal multipliers depend on what the government purchases?",
    "Summary finding: Government purchases of services have larger effects on employment than spending on goods.",
    "Mechanism highlighted: Industries producing services are more labor-intensive than industries producing goods; this heterogeneity in labor intensity is an important mechanism behind the results.",
    "Implication: Spending directed toward labor-intensive industries generates stronger increases in employment and labor income relative to spending toward non-labor-intensive industries.",
    "Government purchases of services yield larger employment effects than government purchases of goods.",
    "Industries producing services are more labor-intensive than industries producing goods.",
    "Heterogeneity in labor intensity is an important mechanism driving heterogeneous local fiscal multipliers.",
    "Spending targeted to labor-intensive industries produces stronger increases in employment and labor income than spending targeted to non-labor-intensive industries.",
    "Subject: Defense spending, Employment, Expenditure, Fiscal multipliers, Fiscal policy, Labor",
    "Keywords: copyright page, Defense spending, Employment, Fiscal multipliers, goods spending, government purchase, Heterogeneous Local Fiscal Multipliers, heterogeneous multiplier, Labor Intensity, Services and Goods Spending, services spending",
    "Format noted: PDF (Download PDF)",
    "Citation example provided: Umberto Muratori, Pedro Juarros, and Daniel Valderrama. \"Heterogeneous Spending, Heterogeneous Multipliers\", IMF Working Papers 2023, 052 (2023), accessed 9/16/2026, https://doi.org/10.5089/9798400233777.001",
    "**Working Paper**"
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