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State Fiscal Policies and Regional Economic Activity
In this paper, I estimate a structural panel vector autoregression to study the consequences of changes in U.S. state government fiscal policies for local economic activity in the short-term. My main result is that the state-level spending multiplier is relatively small and the tax multiplier relati...
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| Gepubliceerd in: | MAGKS - Joint Discussion Paper Series in Economics (Band 46-2014) |
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| Hoofdauteur: | |
| Formaat: | Artikel |
| Taal: | Engels |
| Gepubliceerd in: |
Philipps-Universität Marburg
2014
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| Onderwerpen: | |
| Online toegang: | PDF Full text |
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| Samenvatting: | In this paper, I estimate a structural panel vector autoregression to study the consequences of changes in U.S. state government fiscal policies for local economic activity in the short-term. My main result is that the state-level spending multiplier is relatively small and the tax multiplier relatively large. After four years, the government spending multiplier is 0.6 and the tax multiplier -2.62. This conclusion is found to be robust across different model specifications. I also find that both state spending and state revenue shocks increase out of state output. |
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| Fysieke beschrijving: | 24 Seiten |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0347 |