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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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Balancing Federalism : The Impact of Decentralizing School Accountability
Hanushek, Eric Alan; Saenz-Armstrong, Patricia; … - National Bureau of Economic Research - 2024
change in policy allows estimation of the impact of altered federalism. By looking at how states reacted to their enhanced … with significantly lower student achievement growth. As a result, this readjustment of federalism to decision making by … lower levels appeared to lower national achievement. The snapshot of federalism impacts here is a lower bound on the effects …
Persistent link: https://www.econbiz.de/10014528390
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An institutional economist goes to city hall : a sociological study of the legislative process
Kemp, Thomas - In: Journal of economic issues : jei 43 (2009) 2, pp. 449-455
Persistent link: https://www.econbiz.de/10003862939
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Legislative term limits and state aid to local governments
Yakovlev, Pavel; Tosun, Mehmet Serkan; Lewis, William P. - 2012
We estimate the effect of legislative term limits on various categories of state government spending using the most recent panel of 47 states from 1972 to 2005. Besides the usual economic, political, fiscal and demographic factors, we also control for the state tax and expenditure limitations....
Persistent link: https://www.econbiz.de/10009534888
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Corporate taxation and the quality of research and development
Ernst, Christof; Richter, Katharina; Riedel, Nadine - 2013
This paper examines the impact of tax incentives on corporate research and development (R&D) activity. Traditionally, R&D tax incentives have been provided in the form of special tax allowances and tax credits. In recent years, several countries moreover reduced their income tax rates on R&D...
Persistent link: https://www.econbiz.de/10009721404
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Heterogeneous Responses to the U.S. Narrative Tax Changes : Evidence from the U.S. States
Alam, Masud - 2021
This paper investigates the assumption of homogeneous effects of federal tax changes across the U.S. states and identifies where and why that assumption may not be valid. More specifically, what determines the transmission mechanism of tax shocks at the state level? How vital are states' fiscal...
Persistent link: https://www.econbiz.de/10013217447
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Federal Reserve Structure and the Production of Monetary Policy Ideas
Bordo, Michael D.; Prescott, Edward Simpson - National Bureau of Economic Research - 2023
We evaluate the decentralized structure of the Federal Reserve System as a mechanism for generating and processing new ideas on monetary policy over the 1960 - 2000 period. We document the introduction of monetarism, rational expectations, credibility, transparency, and other monetary policy...
Persistent link: https://www.econbiz.de/10014437046
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Vertical income tax externalities and fiscal interdependence : evidence from the US
Esteller-Moré, Alejandro; Solé-Ollé, Albert - 1999
Concurrent taxation is a feature of many federal systems. As a consequence of this fact, the tax policy of one level of government affects the tax base of the other. This paper carries out a theoretical analysis of the interdependent tax-setting decisions of federal and regional governments,...
Persistent link: https://www.econbiz.de/10011442846
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Multiplier Effects of Federal Disaster-Relief Spending : Evidence from U.S. States and Households
Zhou, Xiaoqing - 2017
Can government spending have a large effect on private consumption and income? This paper uses a novel dataset on federal government disaster-relief spending, combined with both household and state-level consumption, income and employment data, to answer this question. My estimates show that the...
Persistent link: https://www.econbiz.de/10012961537
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Intergovernmental Grants and Policy Competition : Concepts, Institutions, and Evidence
Clemens, Jeffrey; Veuger, Stan - National Bureau of Economic Research - 2023
the literature on the role of intergovernmental grants in systems of fiscal federalism. Second, we provide an updated look … directions for future research on the economics of fiscal federalism and the role of intergovernmental grants as policy …
Persistent link: https://www.econbiz.de/10014287352