Edoardo Briganti - Latest

• High-Frequency Cross-Sectional Identification of Military News Shocks

  Staff Working Paper 2025-27 Francesco Amodeo, Edoardo Briganti

  We identify and quantify fiscal news shocks, compiling events (2001–2023) that altered the expected path of U.S. defense expenditure. For each event, we estimate market-implied shifts in expected spending. A shift-share analysis yields a two-year, metropolitan statistical area–level GDP multiplier of approximately 1 for U.S. military build-ups.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Business fluctuations and cycles, Econometric and statistical methods, Fiscal policy JEL Code(s): E, E2, E20, E3, E30, E32, E6, E60, E62, E65

• Breaking Down the US Employment Multiplier Using Micro­-Level Data

  Staff Working Paper 2025-8 Edoardo Briganti, Holt Dwyer, Ricardo Duque Gabriel, Victor Sellemi

  Using newly matched data on US defense contracts and restricted administrative employment data, we show that the employment effects of defense procurement are costly, concentrated and slow to diffuse.

  Content Type(s): Staff research, Staff working papers Research Topic(s): Fiscal policy JEL Code(s): E, E6, E62, H, H5, H57, J, J2, J21