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Local Fiscal Multipliers and Fiscal Spillovers in the United States / Alan J. Auerbach, Yuriy Gorodnichenko, Daniel Murphy.
- Format:
- Book
- Author/Creator:
- Auerbach, Alan J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w25457.
- NBER working paper series no. w25457
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2019.
- Summary:
- We estimate local fiscal multipliers and spillovers for the United States using a rich dataset based on U.S. Department of Defense contracts and a variety of outcome variables relating to income and employment. We find strong positive spillovers across locations and industries. Both backward linkages and general equilibrium effects (e.g., income multipliers) contribute to the positive spillovers. Geographical spillovers appear to dissipate fairly quickly with distance. Our evidence points to the relevance of Keynesian-type models that feature excess capacity.
- Notes:
- Print version record
- January 2019.
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