Arbeitspapier
On the ease of overstating the fiscal stimulus in the US, 2008-9
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 stimulate the aggregate expenditure above its predicted mean. We discuss the implications of limitations on states' ability to run deficits for the design of fiscal stimulus at the federal level. We devote particular attention to intertemporal moral hazard concerns in a federal fiscal system, and ways to address these concerns.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 664
- Klassifikation
-
Wirtschaft
Fiscal Policy
Financial Aspects of Economic Integration
Intergovernmental Relations; Federalism; Secession
- Thema
-
fiscal union
federal fiscal expenditure
fiscal policy
moral hazard
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Aizenman, Joshua
Pasricha, Gurnain Kaur
- Ereignis
-
Veröffentlichung
- (wer)
-
University of California, Economics Department
- (wo)
-
Santa Cruz, CA
- (wann)
-
2010
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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Objekttyp
- Arbeitspapier
Beteiligte
- Aizenman, Joshua
- Pasricha, Gurnain Kaur
- University of California, Economics Department
Entstanden
- 2010
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