Estimated macroeconomic effects of the U.S. stimulus bill.(Report): An article from: Contemporary Economic Policy
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Author(s)Ray C. Fair
ISBN / ASINB005S8HYVM
ISBN-13978B005S8HYV9
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This digital document is an article from Contemporary Economic Policy, published by Western Economic Association International on October 1, 2010. The length of the article is 11270 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.
From the author: This paper uses a multicountry macroeconometric model to estimate the macro-economic effects of the U.S. stimulus bill passed in February 2009. The analysis has the advantage of taking into account many endogenous effects. Real U.S. output is estimated to be $554 billion larger when summed over the 12-year period 2009:1-2020:4 (0.29% of the total sum of output). The average number of jobs is 509 thousand larger (0.37%). There is some redistribution of output and employment away from 2012 to 2015. At the end of 2020, the federal government debt is larger by $637 billion in real terms (the debt/GDP ratio is larger by 3.19 percentage points), which may increase the risk of negative asset-market reactions. (JEL E17)
Citation Details
Title: Estimated macroeconomic effects of the U.S. stimulus bill.(Report)
Author: Ray C. Fair
Publication:Contemporary Economic Policy (Magazine/Journal)
Date: October 1, 2010
Publisher: Western Economic Association International
Volume: 28 Issue: 4 Page: 439(14)
Article Type: Report
Distributed by Gale, a part of Cengage Learning
From the author: This paper uses a multicountry macroeconometric model to estimate the macro-economic effects of the U.S. stimulus bill passed in February 2009. The analysis has the advantage of taking into account many endogenous effects. Real U.S. output is estimated to be $554 billion larger when summed over the 12-year period 2009:1-2020:4 (0.29% of the total sum of output). The average number of jobs is 509 thousand larger (0.37%). There is some redistribution of output and employment away from 2012 to 2015. At the end of 2020, the federal government debt is larger by $637 billion in real terms (the debt/GDP ratio is larger by 3.19 percentage points), which may increase the risk of negative asset-market reactions. (JEL E17)
Citation Details
Title: Estimated macroeconomic effects of the U.S. stimulus bill.(Report)
Author: Ray C. Fair
Publication:Contemporary Economic Policy (Magazine/Journal)
Date: October 1, 2010
Publisher: Western Economic Association International
Volume: 28 Issue: 4 Page: 439(14)
Article Type: Report
Distributed by Gale, a part of Cengage Learning
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