James Morley is Associate Dean (Research) and Professor of Economics in the UNSW Australia Business School. Before moving to Australia in 2010, he was a faculty member at Washington University in St. Louis (1999-2010) and Research Fellow at the Federal Reserve Bank of St. Louis (2004-2010). He has also held many visiting positions, including at the Bank of Canada, the Reserve Bank of New Zealand, and the Bank of International Settlements. His research has been published in many top academic journals and focuses on the empirical analysis of business cycles, stabilization policy, and sources of persistent changes in macroeconomic and financial variables.
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We investigate the effects of government spending on U.S. economic activity using a threshold version of a structural vector autoregressive model.