Owyang, Michael T.; Zubairy, Sarah - In: Regional Science and Urban Economics 43 (2013) 3, pp. 445-464
We simultaneously identify two government spending shocks: military spending shocks as defined by Ramey (2011) and federal spending shocks as defined by Perotti (2008). We analyze the effect of these shocks on state-level personal income and employment. We find regional patterns in the manner in...
