Showing 1 - 10 of 1,405
A key rationale for fiscal stimulus is to boost consumption when aggregate demand is perceived to be inefficiently low. We examine the ability of the government to increase consumption by evaluating the impact of the 2009 "Cash for Clunkers" program on short and medium run auto purchases. Our...
Persistent link: https://www.econbiz.de/10013138317
This paper examines the effects of the Reconstruction Finance Corporation's (RFC) loan and preferred stock programs on bank failure rates in Michigan during the period 1932-1934, which includes the important Michigan banking crisis of early 1933 and its aftermath. Using a new database on...
Persistent link: https://www.econbiz.de/10013100128
Given the wide use of childcare subsidies across countries, it is surprising how little we know about the effect of these subsidies on children's longer run outcomes. Using a sharp discontinuity in the price of childcare in Norway, we are able to isolate the effects of childcare subsidies on...
Persistent link: https://www.econbiz.de/10013106307
inference problem novel. We show that even if individual ITN use unambiguously increases with increasing incidence of subsidy in …, depending on the resulting aggregate incidence of subsidy. Applying our method to the Kenyan data, we find that (i) individual … ITN use rises with neighborhood subsidy-rates, (ii) under means-testing, predicted ITN use is a convex increasing function …
Persistent link: https://www.econbiz.de/10013086233
factor prices and on environmental outcomes. We model an output subsidy, a capital subsidy, relief from environmental … regulation, and a direct cash subsidy. In exchange for receiving subsidies, firms must agree to a minimum level of labor … employment. Each type of subsidy and the employment constraint create both output effects and substitution effects on input …
Persistent link: https://www.econbiz.de/10013064267
By 2015, global oil consumption will reach 90 million barrels per day. In part, this high level of consumption reflects the fact that many countries provide subsidies for gasoline and diesel. This paper examines global fuel subsidies using the latest available data from the World Bank, finding...
Persistent link: https://www.econbiz.de/10013071789
The covid-19 crisis has led to a sharp deterioration in firm and bank balance sheets. The government has responded with a massive intervention in corporate credit markets. We study equilibrium dynamics of macroeconomic quantities and prices, and how they are affected by government policy. The...
Persistent link: https://www.econbiz.de/10012833129
This paper examines how employee earnings at small firms respond to a cash flow shock in the form of a government R&D grant. We use ranking data on applicant firms, which we link to IRS W2 earnings and other U.S. Census Bureau datasets. In a regression discontinuity design, we find that the...
Persistent link: https://www.econbiz.de/10012842482
What is the effect of cash injections during financial crises? Exploiting county-level variation arising from random weather shocks during the 1980s Farm Debt Crisis, we analyze and measure the effect of local cash flow shocks on the real and financial sector. We show that such cash flow shocks...
Persistent link: https://www.econbiz.de/10012953501
Under waivers to the No Child Left Behind (NCLB) Act, the federal government required states to identify schools where targeted subgroups of students have the lowest achievement and to implement reforms in these “Focus Schools.” In this study, we examine the Focus School reforms in the state...
Persistent link: https://www.econbiz.de/10012954928