| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21680 |
| 来源ID | Working Paper 21680 |
| Fiscal Stimulus in Economic Unions: What Role for States? | |
| Gerald Carlino; Robert P. Inman | |
| 发表日期 | 2015-11-02 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | The Great Recession and the subsequent passage of the American Recovery and Reinvestment Act returned fiscal policy, and particularly the importance of state and local governments, to the center stage of macroeconomic policy-making. This paper addresses three questions for the design of intergovernmental macroeconomic fiscal policies. First, are such policies necessary? Analysis of US state fiscal policies show state deficits (in particular from tax cuts) can stimulate state economies in the short-run, but that there are significant job spillovers to neighboring states. Second, to internalize these spillovers, what central government fiscal policies are most effective for stimulating income and job growth? Both federal tax cuts and transfers to households and firms and intergovernmental transfers to states for lower income assistance are effective, with one and two year multipliers greater than 2.0. Third, how are states, as politically independent agents, motivated to provide increased transfers to lower income households? The answer is matching (price subsidy) assistance for such spending. The intergovernmental aid is spent immediately by the states and supports assistance to those most likely to spend new transfers. |
| 主题 | Macroeconomics ; Fiscal Policy ; Subnational Fiscal Issues |
| URL | https://www.nber.org/papers/w21680 |
| 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/579355 |
| 推荐引用方式 GB/T 7714 | Gerald Carlino,Robert P. Inman. Fiscal Stimulus in Economic Unions: What Role for States?. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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