| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16754 |
| DP16754 Fiscal Multipliers in the COVID19 Recession | |
| Alan Auerbach; Yuriy Gorodnichenko; Peter McCrory; Daniel Murphy | |
| 发表日期 | 2021-11-25 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with widespread shelter-in-place (“lockdown”) policies and the associated considerable limits on economic activity. Using detailed regional variation in economic conditions, lockdown policies, and U.S. government spending, we document that the effects of government spending were stronger during the peak of the pandemic recession, but only in cities that were not subject to strong stay-at-home orders. We examine mechanisms that can account for our evidence and place our findings in the context of other recent evidence from microdata. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Covid19 Fiscal multiplier Stimulus |
| URL | https://cepr.org/publications/dp16754 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545688 |
| 推荐引用方式 GB/T 7714 | Alan Auerbach,Yuriy Gorodnichenko,Peter McCrory,et al. DP16754 Fiscal Multipliers in the COVID19 Recession. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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