In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting …
How large economic stimuli generate individual and aggregate responses is a central question in economics, but has not been studied experimentally. We provided one‐time …
This paper discusses empirical approaches macroeconomists use to answer questions like: What does monetary policy do? How large are the effects of fiscal stimulus? What caused …
G Chodorow-Reich - American Economic Journal: Economic Policy, 2019 - aeaweb.org
A geographic cross-sectional fiscal spending multiplier measures the effect of an increase in spending in one region of a monetary union. Empirical studies of such multipliers have …
JB DeLong, LH Summers, M Feldstein… - Brookings Papers on …, 2012 - JSTOR
In a depressed economy, with short-term nominal interest rates at their zero lower bound, ample cyclical unemployment, and excess capacity, increased government purchases …
Local governments are facing large losses in revenues and increased expenditures because of the COVID-19 crisis. We document a causal relationship between fiscal …
VA Ramey - Journal of Economic Literature, 2011 - aeaweb.org
This essay briefly reviews the state of knowledge about the government spending multiplier. Drawing on theoretical work, aggregate empirical estimates from the United States, as well …
Researchers often estimate average treatment effects of programs without investigating heterogeneity across units. Yet, individuals, firms, regions, or countries vary in their ability to …
Abstract The American Recovery and Reinvestment Act (ARRA) of 2009 included 88billionofaidtostategovernmentsadminister… .Weexaminetheeffectofthesetransfersonstates'employment.Becausestatefiscalreliefoutlaysareendogen …