Fiscal spending jobs multipliers: Evidence from the 2009 American recovery and reinvestment act

American Economic Journal: Economic Policy

Volumn 4, Issue 3, 2012, Pages 251-282

  Wilson, Daniel J ^a  

^a FEDERAL RESERVE BANK OF SAN FRANCISCO   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84868030545     PISSN: 19457731     EISSN: 1945774X     Source Type: Journal    
DOI: 10.1257/pol.4.3.251     Document Type: Article

References (35)

1. Alesina, Alberto F., and Silvia Ardagna. 2010. "Large Changes in Fiscal Policy: Taxes Versus Spending." In Tax Policy and the Economy, Vol. 24, edited by Jeffrey R. Brown, 35-68. Chicago: University of Chicago Press.
2. Auerbach, Alan J., and Yuriy Gorodnichenko. 2012. "Measuring the Output Responses to Fiscal Policy." American Economic Journal: Economic Policy 4 (3): 1-27.
3. Barro, Robert J., and Charles J. Redlick. 2011. "Macroeconomic Effects from Government Purchases and Taxes." Quarterly Journal of Economics 126 (1): 51-102.
4. Bartik, Timothy J. 1991. Who Benefits From State and Local Economic Development Policies? Kalamazoo: William E. Upjohn Institute for Employment Research.
5. Blanchard, Olivier Jean, and Lawrence F. Katz. 1992. "Regional Evolutions." Brookings Papers on Economic Activity 22 (1): 1-61.
6. Blanchard, Olivier Jean, and Roberto Perotti. 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output." Quarterly Journal of Economics 117 (4): 1329-68.
7. Blinder, Alan S., and Mark Zandi. 2010. "How the Great Recession Was Brought to an End." https:// www.economy.com/mark-zandi/default.asp?src=economy_homepage.
8. Chodorow-Reich, Gabriel, Laura Feiveson, Zachary Liscow, and William Gui Woolston. Forthcoming. "Does State Fiscal Relief During Recessions Increase Employment? Evidence from the American Recovery and Reinvestment Act." American Economic Journal: Economic Policy.
9. Christiano, Lawrence J., Martin Eichenbaum, and Sergio Rebelo. 2010. "When Is the Government Spending Multiplier Large?" Federal Reserve Bank of Atlanta Center for Quantitative Economic Research (CQER) Working Paper 10-01.
10. Clemens, Jeffrey, and Stephen Miran. 2012. "Fiscal Policy Multipliers on Subnational Government Spending." American Economic Journal: Economic Policy 4 (2): 46-68.
11. Cogan, John F., Tobias Cwik, John B. Taylor, and Volker Wieland. 2009. "New Keynesian Versus Old Keynesian Government Spending Multipliers." Center for Economic Policy Research (CEPR) Discussion Paper 7236.
12. Congressional Budget Office. 2010. The Budget and Economic Outlook: Fiscal Years 2010 to 2020. US Congress. Washington, DC, January.
13. Congressional Budget Office. 2011. Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output from October 2010 Through December 2010. US Congress. Washington, DC, February.
14. Conley, Timothy G., and William Dupor. 2011. "The American Recovery and Reinvestment Act: Public Sector Jobs Saved, Private Sector Jobs Forestalled." Unpublished.
15. Council of Economic Advisers. 2010. The Economic Impact of the American Recovery and Reinvestment Act of 2010, Second Quarterly Report. Executive Office of the President of the United States. Washington, DC, January.
16. Council of Economic Advisers. 2011. The Economic Impact of the American Recovery and Reinvestment Act of 2010, Fifth Quarterly Report. Executive Office of the President of the United States. Washington, DC, November.
17. Drautzburg, Thorsten, and Harald Uhlig. 2010. "Fiscal Stimulus and Distortionary Taxation." National Bureau of Economic Research (NBER) Working Paper 17111.
18. Feyrer, James, and Bruce Sacerdote. 2011. "Did the Stimulus Stimulate? Real Time Estimates of the Effects of the American Recovery and Reinvestment Act." National Bureau of Economic Research (NBER) Working Paper 16759.
19. Fishback, Price V., and Valentina Kachanovskaya. 2010. "In Search of the Multiplier for Federal Spending in the States During the New Deal." National Bureau of Economic Research (NBER) Working Paper 16561.
20. Government Accountability Office. 2009. "GAO-10-223 Recovery Act: Recipient Reported Jobs Data Provide Some Insights into Use of Recovery Act Funding, but Data Quality and Reporting Issues Need Attention." Government Accountability Office (GAO). Washington, DC, November.
21. Hansen, Lars Peter. 1982. "Large Sample Properties of Generalized Method of Moments Estimators." Econometrica 50 (4): 1029-54.
22. Ilzetzki, Ethan, Enrique G. Mendoza, and Carlos Végh. 2010. "How Big (Small) Are Fiscal Multipliers?" National Bureau of Economic Research (NBER) Working Paper 16479.
23. Leduc, Sylvain, and Daniel J. Wilson. Forthcoming. "Roads to Prosperity or Bridges to Nowhere? Theory and Evidence on the Impact of Public Infrastructure Investment." National Bureau of Economic Research (NBER) Macroeconomics Annual 2012.
24. Leeper, Eric M., Todd B. Walker, and Shu-Chun S. Yang. 2010. "Government Investment and Fiscal Stimulus." Journal of Monetary Economics 57 (8): 1000-12.
25. Mertens, Karel, and Morten O. Ravn. 2010. "Measuring the Impact of Fiscal Policy in the Face of Anticipation: A Structural VAR Approach." Economic Journal 120 (544): 393-413.
26. Mian, Atif, and Amir Sufi. 2010. "The Effects of Fiscal Stimulus: Evidence from the 2009 'Cash for Clunkers' Program." National Bureau of Economic Research (NBER) Working Paper 16351.
27. Moretti, Enrico. 2010. "Local Multipliers." American Economic Review 100 (2): 373-77.
28. Mountford, Andrew, and Harald Uhlig. 2009. "What Are the Effects of Fiscal Policy Shocks?" Journal of Applied Econometrics 24 (6): 960-92.
29. Nakamura, Emi, and Jon Steinsson. 2010. "Fiscal Stimulus in a Monetary Union: Evidence from US Regions." Unpublished.
30. Ramey, Valerie A. 2011a. "Can Government Purchases Stimulate the Economy?" Journal of Economic Literature 49 (3): 673-85.
31. Ramey, Valerie A. 2011b. "Identifying Government Spending Shocks: It's All in the Timing." Quarterly Journal of Economics 126 (1): 1-50.
32. Serrato, Juan C. S., and Phillippe Wingender. 2010. "Estimating Local Fiscal Multipliers." http://ceg. berkeley.edu/students_9_2583495006.pdf.
33. Shoag, Daniel. 2010. "The Impact of Government Spending Shocks: Evidence on the Multiplier from State Pension Plan Returns." http://www.people.fas.harvard.edu/~shoag/papers.hmtl.
34. Stock, James H., and Motohiro Yogo. 2005. "Testing for Weak Instruments in Linear IV Regression." In Identification and Inference for Econometric Models, edited by Donald W. K. Andrews, 80-108. New York: Cambridge University Press.
35. Wilson, Daniel J. 2012. "Fiscal Spending Jobs Multipliers: Evidence from the 2009 American Recovery and Reinvestment Act: Dataset." American Economic Journal: Economic Policy http://dx.doi.org/10.1257/pol.4.3.251.