| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w30168 |
| 来源ID | Working Paper 30168 |
| Was Pandemic Fiscal Relief Effective Fiscal Stimulus? Evidence from Aid to State and Local Governments | |
| Jeffrey Clemens; Philip G. Hoxie; Stan Veuger | |
| 发表日期 | 2022-06-20 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We use an instrumental-variables estimator reliant on variation in congressional representation to analyze the effects of federal aid to state and local governments across all four major pieces of COVID-19 response legislation. Through September 2021, we estimate that the federal government allocated $855,000 for each state or local government job-year preserved. Our baseline confidence interval allows us to rule out estimates of less than $433,000. Our estimates of effects on aggregate income and output are centered on zero and imply modest if any spillover effects onto the broader economy. We discuss aspects of the pandemic context, which include the surprising resilience of state and local tax revenues as well as of broader macroeconomic conditions, that may underlie the small employment and stimulative impacts we estimate in comparison with previous research. |
| 主题 | Macroeconomics ; Fiscal Policy ; Public Economics ; Subnational Fiscal Issues ; COVID-19 |
| URL | https://www.nber.org/papers/w30168 |
| 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/587842 |
| 推荐引用方式 GB/T 7714 | Jeffrey Clemens,Philip G. Hoxie,Stan Veuger. Was Pandemic Fiscal Relief Effective Fiscal Stimulus? Evidence from Aid to State and Local Governments. 2022. |
| 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 | ||
| w30168.pdf（1528KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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