000			01159nam a22001457a 4500
999			_c522413 _d522413
008			230411b ||||| |||| 00| 0 eng d
100			_aBuchheim, Lukas and Watzinger, Martin _939714
245			_aThe employment effects of countercyclical public investments
260			_aAmerican Economic Journal: Economic Policy
300			_a15(1), Feb, 2023: p.154-173
520			_aThis paper estimates the causal impact of a sizable German public investment program on employment at the county level. The program focused on improving the energy efficiency of school buildings, making it possible to use the number of schools as an instrument for investments. It also enforced tight deadlines, reducing potential implementation lags. The program was cost-effective, creating, on average, one job for one year for an investment of €24,000. The employment gains are detectable after nine months and are accompanied by an unemployment reduction amounting to half of the job creation. Employment grew predominately in the directly affected industries.- Reproduced
773			_aAmerican Economic Journal: Economic Policy
906			_aEMPLOYMENT
942			_cAR