| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w15839 |
| 来源ID | Working Paper 15839 |
| Do Powerful Politicians Cause Corporate Downsizing? | |
| Lauren Cohen; Joshua D. Coval; Christopher Malloy | |
| 发表日期 | 2010-03-25 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper employs a new empirical approach for identifying the impact of government spending on the private sector. Our key innovation is to use changes in congressional committee chairmanship as a source of exogenous variation in state-level federal expenditures. In doing so, we show that fiscal spending shocks appear to significantly dampen corporate sector investment and employment activity. These corporate reactions follow both Senate and House committee chair changes, are present among large and small firms and within large and small states, are partially reversed when the congressman resigns, and are most pronounced among geographically-concentrated firms. The effects are economically meaningful and the mechanism - entirely distinct from the more traditional interest rate and tax channels - suggests new considerations in assessing the impact of government spending on private sector economic activity. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Fiscal Policy ; Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w15839 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573512 |
| 推荐引用方式 GB/T 7714 | Lauren Cohen,Joshua D. Coval,Christopher Malloy. Do Powerful Politicians Cause Corporate Downsizing?. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w15839.pdf（183KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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