Data and Code for National Fiscal Policies to Fight Recessions in US States

Principal Investigator(s): View help for Principal Investigator(s) Karen Dynan, Harvard University; Douglas Elmendorf, Harvard University

Version: View help for Version V1

Name	File Type	Size	Last Modified
Dynan_P_and_P.do	text/x-stata-syntax	20.4 KB	06/05/2020 01:48:PM
Dynan_make_P_and_P_data.do	text/x-stata-syntax	4.5 KB	06/05/2020 02:01:PM
README.pdf	application/pdf	61.2 KB	06/05/2020 02:01:PM
de_p_and_p_dat_long.dta	application/x-stata	972.5 KB	06/05/2020 02:02:PM
de_p_and_p_dat_wide.dta	application/x-stata	633.4 KB	06/05/2020 01:19:PM

Project Citation:

Dynan, Karen, and Elmendorf, Douglas . Data and Code for National Fiscal Policies to Fight Recessions in US States. Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-07-27. https://doi.org/10.3886/E119742V1

Project Description

Summary: Countercyclical fiscal policy generally focuses on national economic downturns. But U.S. states experience significantly different patterns of unemployment, and demand shocks appear to drive much of that variation. State budget rules limit the ability of states to mount their own countercyclical policies. Federal taxes and spending programs have countercyclical effects within states, but the magnitude of those effects depends on policies that were designed based on other considerations (just as the extent of national automatic stabilizers is the result of policies based on other considerations). Enacting countercyclical fiscal policy calibrated to state unemployment rates would reduce the cost of recessions.

Scope of Project

JEL Classification:
      E32 Business Fluctuations; Cycles
      E62 Fiscal Policy
      H71 State and Local Taxation, Subsidies, and Revenue
      H72 State and Local Budget and Expenditures
      R23 Urban, Rural, Regional, Real Estate, and Transportation Economics: Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics

Geographic Coverage: United States

Time Period(s): 1976 – 2019

Universe: U.S. States

Data Type(s): aggregate data

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Published Versions

V1 [2020-07-27]

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