Most countries exhibit large and persistent geographical differences in wages, income, and
unemployment rates. A growing class of place-based policies attempts to address these …

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 …

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 …

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 …

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 …