Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/64517 
Erscheinungsjahr: 
2010
Schriftenreihe/Nr.: 
Working Paper No. 664
Verlag: 
University of California, Economics Department, Santa Cruz, CA
Zusammenfassung: 
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.
Schlagwörter: 
fiscal union
federal fiscal expenditure
fiscal policy
moral hazard
JEL: 
E62
F36
H77
Dokumentart: 
Working Paper

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