| 000 -LEADER |
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| fixed length control field |
01214nam a22001457a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
230411b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Carlino,Gerald et al |
| 245 ## - TITLE STATEMENT |
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| Title |
Partisanship and fiscal policy in economic unions: Evidence from US states |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
The American: Economic Reviews |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
113(3), Mar, 2023: p. 701-737 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
Partisanship of state governors affects the efficacy of US federal fiscal policy. Using close election data, we find partisan differences in the marginal propensity to spend federal intergovernmental transfers: Republican governors spend less than Democratic governors. Correspondingly, Republican-led states have lower debt, (delayed) lower taxes, and initially lower economic activity. A New Keynesian model of partisan states in a monetary union implies sizable aggregate effects: The intergovernmental transfer impact multiplier rises by 0.58 if Republican governors spend like Democratic governors, but due to delayed tax cuts, the long-run multiplier is higher with more Republican governors, generating an intertemporal policy trade-off. – Reproduced |
| 773 ## - HOST ITEM ENTRY |
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| Main entry heading |
The American: Economic Reviews |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
FISCAL POLICY |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
