| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18930 |
| 来源ID | Working Paper 18930 |
| Local Deficits and Local Jobs: Can U.S. States Stabilize Their Own Economies? | |
| Gerald Carlino; Robert P. Inman | |
| 发表日期 | 2013-03-28 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | Using a sample of the 48 mainland U.S. states for the period 1973-2009, we study the ability of U.S. states to expand own state employment through the use of state deficit policies. The analysis allows for the facts that U.S. states are part of a wider monetary and economic union with free factor mobility across all states and that state residents and firms may purchase goods from "neighboring" states. Those purchases may generate economic spillovers across neighbors. Estimates suggest that states can increase own state employment by increasing their own deficits. There is evidence of spillovers to employment in neighboring states defined by common cyclical patterns among state economies. For large states, aggregate spillovers to its economic neighbors are approximately two-thirds of own state job growth. Because of significant spillovers and possible incentives to free-ride, there is a potential case to actively coordinate (i.e., centralize) the management of stabilization policies. Finally, job effects of a temporary increase in state own deficits persist for at most one to two years and there is evidence of negative job effects when these deficits are scheduled for repayment. |
| 主题 | Macroeconomics ; Fiscal Policy ; Subnational Fiscal Issues ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w18930 |
| 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/576605 |
| 推荐引用方式 GB/T 7714 | Gerald Carlino,Robert P. Inman. Local Deficits and Local Jobs: Can U.S. States Stabilize Their Own Economies?. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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