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The Employment Effects of Fiscal Policy: How Costly Are ARRA Jobs?

F. Gerard Adams and Byron Gangnes ()

No 201026, Working Papers from University of Hawaii at Manoa, Department of Economics

Abstract: The American Recovery and Reinvestment Act was intended to stimulate the U.S.economy and to create jobs. But at what cost? In this paper, we discuss the range of potential benefits and costs associated with counter-cyclical fiscal policy. Benefits and costs may be social, macroeconomic, systemic, and budgetary. They may depend importantly on timing and implementation. There may be very different implications over the business cycle horizon and in the medium to long term. We use simulations of the IHS Global Insight macro-econometric model to evaluate some of these costs and benefits in the U.S. economy, looking specifically at the impact of the ARRA program and potential alternative policies.

Keywords: fiscal policy; employment; American Recovery and Reinvestment Act (ARRA); econometric model simulation. (search for similar items in EconPapers)
JEL-codes: E37 E62 E65 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mac
Date: 2010-12-20
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http://www.economics.hawaii.edu/research/workingpapers/WP_10-26.pdf First version, 2010 (application/pdf)

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