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Giglio, Stefano; Kuchler, Theresa; Stroebel, Johannes; … - National Bureau of Economic Research - 2023

We explore the effects of physical and regulatory risks related to biodiversity loss on economic activity and asset … values. We first develop a news-based measure of aggregate biodiversity risk and analyze how it varies over time. We also … construct and publicly release several firm-level measures of exposure to biodiversity risk, based on textual analyses of firms …

Persistent link: https://www.econbiz.de/10014250155

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

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

Partisanship of state level politicians affect the impact of federal fiscal policy in the U.S. Using data from close gubernatorial elections, we find partisan differences in the marginal propensity to spend federal transfers since the early 1980's: Republican governors spend less. A New...

Persistent link: https://www.econbiz.de/10012482641

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

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, and distortionary taxation on labor and capital income and on consumption expenditures are fit to U.S. data under a variety of specifications of fiscal policy rules. We obtain...

Persistent link: https://www.econbiz.de/10012463489

The Social Value of Hurricane Forecasts

Molina, Renato; Rudik, Ivan - National Bureau of Economic Research - 2024

What is the impact and value of hurricane forecasts? We study this question using newly-collected forecast data for major US hurricanes since 2005. We find higher wind speed forecasts increase pre-landfall protective spending, but erroneous under-forecasts increase post-landfall damage and...

Persistent link: https://www.econbiz.de/10014576576

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

Do Government Spending Multipliers Depend on the Sign of the Shock?

Ben Zeev, Nadav; Ramey, Valerie A.; Zubairy, Sarah - National Bureau of Economic Research - 2023

We analyze whether government spending multipliers differ by the sign of the shock. Using aggregate historical U.S. data, we apply Ben Zeev's (2020) nonlinear diagnostic tests and find evidence of nonlinearities in the impulse response functions of both government spending and GDP. We then...

Persistent link: https://www.econbiz.de/10014247936

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

Estimating the Effects of Government Spending Through the Production Network

Barattieri, Alessandro; Cacciatore, Matteo; Traum, Nora - National Bureau of Economic Research - 2023

We estimate the effects of government spending along the supply chain using disaggregated U.S. government procurement data. We first identify sectoral public spending shocks and combine them with input-output tables to measure upstream and downstream exposure through the production network. We...

Persistent link: https://www.econbiz.de/10014372437

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