Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/250544 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 14883
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While countercyclical fiscal policy is effective in fighting conventional recessions, little is known about the effectiveness of fiscal policy in the current environment with widespread shelter-in-place ("lockdown") policies and the associated considerable limits on economic activity. Using detailed regional variation in economic conditions, lockdown policies, and U.S. government spending, we document that the effects of government spending were stronger during the peak of the pandemic recession, but only in cities that were not subject to strong stay-at-home orders. We examine mechanisms that can account for our evidence and place our findings in the context of other recent evidence from microdata.
Schlagwörter: 
COVID-19
fiscal multiplier
stimulus
JEL: 
E62
E32
H3
Dokumentart: 
Working Paper

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