Search Results

Showing results 1 to 8 of approximately 8.

(refine search)
SORT BY: PREVIOUS / NEXT
Keywords:American Recovery and Reinvestment Act 

Working Paper
Macro fiscal policy in economic unions: states as agents

An important component of the American Recovery and Reinvestment Act?s (ARRA?s) $796 billion proposed stimulus budget was $318 billion in fiscal assistance to state and local governments, yet the authors have no precise estimates of the impact of such assistance on the macroeconomy. In evaluating ARRA, both the Council of Economic Advisors (CEA) and the Congressional Budget Office (CBO) used instead the impacts of direct federal spending and tax relief. These estimates miss the role of states as agents. The authors provide estimates of aid?s multiplier effects allowing explicitly for state ...
Working Papers , Paper 14-20

Working Paper
Political Connections, Allocation of Stimulus Spending, and the Jobs Multiplier

Using American Recovery and Reinvestment Act (ARRA) data, we show that firms lever their political connections to win stimulus grants and that public expenditure channeled through politically connected firms hinders job creation. We build a unique database that links information on campaign contributions, state legislative elections, firm characteristics, and ARRA grant allocation. Using exogenous variation in political connections based on ex-post close elections held before ARRA, we causally show that politically connected firms are 38 percent more likely to secure a grant. Based on an ...
FRB Atlanta Working Paper , Paper 2021-13

Report
The impact of the Great Recession on school district finances: evidence from New York

Despite education?s fundamental role in human capital formation and growth, there is no research that examines the effect of the Great Recession (or any other recession) on schools. Our paper begins to fill this gap. Exploiting detailed data on school finance indicators and an analysis of trend shifts, we examine how the Great Recession affected school funding in New York State. While we find no evidence of effects on either total revenue or expenditure, there were important compositional changes to both. There is strong evidence of substitution of funds on the revenue side?the infusion of ...
Staff Reports , Paper 534

Working Paper
The 2009 recovery act: stimulus at the extensive and intensive labor margins

This paper studies the effect of government stimulus spending on a novel aspect of the labor market: the differential impact of spending on the total wage bill versus employment. We analyze the 2009 Recovery Act via instrumental variables using a new instrument, the spending done by federal agencies that were not instructed to target funds towards harder hit regions. We find a moderate positive effect on jobs created/saved (i.e., "the extensive margin") and also a significant increase in wage payments to workers whose job status was safe without Recovery Act funds (i.e., "the intensive ...
Working Papers , Paper 2014-23

Working Paper
Political Connections, Allocation of Stimulus Spending, and the Jobs Multiplier

Using American Recovery and Reinvestment Act (ARRA) data, we show that firms lever their political connections to win stimulus grants and that public expenditure channeled through politically connected firms hinders job creation. We build a unique database that links information on campaign contributions, state legislative elections, firm characteristics, and ARRA grant allocation. Using exogenous variation in political connections based on ex-post close elections held before ARRA, we causally show that politically connected firms are 38 percent more likely to secure a grant. Based on an ...
Finance and Economics Discussion Series , Paper 2021-005r1

Working Paper
A Cup Runneth Over: Fiscal Policy Spillovers from the 2009 Recovery Act

This paper studies the effects of interregional spillovers from the government spending component of the American Recovery and Reinvestment Act of 2009 (the Recovery Act). Using cross-county Census Journey to Work commuting data, we cluster U.S. counties into local labor markets, each of which we further partition into two subregions. We then compare differential labor market outcomes and Recovery Act spending at the regional and subregional levels using instrumental variables. Our instrument is the sum of spending by federal agencies not instructed to allocate Recovery Act funds according to ...
Working Papers , Paper 2014-29

Working Paper
Schools and Stimulus

This paper analyzes the impact of the education funding component of the 2009 American Recovery and Reinvestment Act (the Recovery Act) on public school districts. We use cross- Sectional differences in district-level Recovery Act funding to investigate the program's impact on staffing, expenditures and debt accumulation. To achieve identification, we use exogenous variation across districts in the allocations of Recovery Act funds for special needs students. We estimate that $1 million of grants to a district had the following effects: expenditures increased by $570 thousand, district ...
Working Papers , Paper 2015-4

Working Paper
Political Connections, Allocation of Stimulus Spending, and the Jobs Multiplier

Using American Recovery and Reinvestment Act (ARRA) data, we show that firms lever their political connections to win stimulus grants and public expenditure channeled through politically connected firms hinders job creation. We build a unique database that links campaign contributions and state legislative election outcomes to ARRA grant allocation. Using exogenous variation in political connections based on ex-post close elections held before ARRA, we causally show that politically connected firms are 64 percent more likely to secure a grant. Based on an instrumental variable approach, we ...
Finance and Economics Discussion Series , Paper 2021-005

FILTER BY year

FILTER BY Content Type

Working Paper 7 items

Report 1 items

FILTER BY Author

FILTER BY Jel Classification

E62 6 items

D22 3 items

D72 3 items

H57 3 items

P16 3 items

D24 2 items

show more (7)

PREVIOUS / NEXT