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Fiscal Spending Jobs Multipliers: Evidence from the 2009 American Recovery and Reinvestment Act

Daniel Wilson ()

American Economic Journal: Economic Policy, 2012, vol. 4, issue 3, 251-82

Abstract: This paper estimates the "jobs multiplier" of fiscal stimulus spending using the state-level allocations of federal stimulus funds from the American Recovery and Reinvestment Act (ARRA) of 2009. Because the level and timing of stimulus funds that a state receives was potentially endogenous, I exploit the fact that most of these funds were allocated according to exogenous formulary allocation factors such as the number of federal highway miles in a state or its youth share of population. Cross-state IV results indicate that ARRA spending in its first year yielded about eight jobs per million dollars spent, or $125,000 per job. (JEL E24, E62, H72, H75, R23)

JEL-codes: E24 E62 H72 H75 R23 (search for similar items in EconPapers)
Date: 2012
Note: DOI: 10.1257/pol.4.3.251
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