US federal transfers to individuals are large, countercyclical, vary geographically, and are often credited for helping stabilize regional economies. This paper estimates the short-run effects of these transfers using plausibly exogenous regional variation in temporary stimulus packages and earlier permanent Social Security increases. States that received larger transfers tended to grow faster contemporaneously, with a multiplier of around 1.5 for...
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INFORMATION
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2020/05/12
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Document de travail de recherche sur les politiques
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WPS9244
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1
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1
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2020/05/12
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Disclosed
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Cross-Region Transfers in a Monetary Union : Evidence from the US and Some Implications
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development research group