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Estimating the Net Fiscal Cost of a Child Tax Credit Expansion
Goldin, Jacob; Maag, Elaine; Michelmore, Katherine - National Bureau of Economic Research - 2021
Recent proposals to expand the Child Tax Credit (CTC) are at the center of current policy discussions in the United States. We study the fiscal cost of three such proposals that would expand refundability of the credit to low-income children, increase the maximum credit amount, and/or eliminate...
Persistent link: https://www.econbiz.de/10012660020
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Partisanship and Fiscal Policy in Economic Unions : Evidence from U.S. States
Carlino, Gerald A.; Drautzburg, Thorsten; Inman, Robert P. - National Bureau of Economic Research - 2021
gubernatorial elections, we find partisan differences in the marginal propensity to spend federal transfers since the early 1980's …
Persistent link: https://www.econbiz.de/10012482641
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On the ease of overstating the fiscal stimulus in the US, 2008-9
Aizenman, Joshua - 2010
This note shows that the aggregate fiscal expenditure stimulus in the United States, properly adjusted for the declining fiscal expenditure of the fifty states, was close to zero in 2009. While the Federal government stimulus prevented a net decline in aggregate fiscal expenditure, it did not...
Persistent link: https://www.econbiz.de/10012462868
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Dynamics of Fiscal Financing in the United States
Leeper, Eric M. - 2009
Dynamic stochastic general equilibrium models that include policy rules for government spending, lump-sum transfers … debt. Third, based on estimated policy rules, transfers, capital tax rates, and government spending have historically … condition linking debt to expected discounted surpluses---transfers, spending, tax revenues, and discount factors …
Persistent link: https://www.econbiz.de/10012463489
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Fiscal Stimulus in a Monetary Union : Evidence from U.S. Regions
Nakamura, Emi - 2011
We use rich historical data on military procurement spending across U.S. regions to estimate the effects of government spending in a monetary union. Aggregate military build-ups and draw- downs have differential effects across regions. We use this variation to estimate an "open economy relative...
Persistent link: https://www.econbiz.de/10012461267
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Was Pandemic Fiscal Relief Effective Fiscal Stimulus? Evidence from Aid to State and Local Governments
Clemens, Jeffrey; Hoxie, Philip G.; Veuger, Stan - National Bureau of Economic Research - 2022
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...
Persistent link: https://www.econbiz.de/10013334387
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Macroeconomic Frameworks
Auerbach, Alan J. - 2019
We link detailed data on defense spending, wages, hours, employment, establishments, and GDP across U.S. cities to study the effects of fiscal stimulus. Our small-open-economy empirical setting permits us to estimate key macroeconomic outcomes and elasticities, including the responses of the...
Persistent link: https://www.econbiz.de/10012480310
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Fiscal Policies in Open Cities with Firms and Households
Haughwout, Andrew - 2000
responsibility for welfare transfers …
Persistent link: https://www.econbiz.de/10012470920
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Fiscal Policy and Monetary Union : Is There a Tradeoff between Federalism and Budgetary Restrictions?
Eichengreen, Barry - 1996
The Maastricht Treaty on Europe Union features an Excessive Deficit Procedure limiting the freedom to borrow of governments participating in the European monetary union. One justification is to prevent states from over- borrowing and demanding a bailout which could divert the European Central...
Persistent link: https://www.econbiz.de/10012473342
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Fiscal Rules, Bailouts, and Reputation in Federal Governments
Dovis, Alessandro - 2017
Expectations of bailouts by central governments incentivize overborrowing by local governments. In this paper, we ask if fiscal rules can correct these incentives to overborrow when central governments cannot commit and if these rules will arise in equilibrium. We address these questions in a...
Persistent link: https://www.econbiz.de/10012453772