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

Resource Type
Dataset : aggregate data
  • Dynan, Karen (Harvard University)
  • Elmendorf, Douglas (Harvard University)
Publication Date
  • Abstract

    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.
Temporal Coverage
  • 1976-01-01 / 2019-12-31
    Time Period: Thu Jan 01 00:00:00 EST 1976--Tue Dec 31 00:00:00 EST 2019
Geographic Coverage
  • United States
Sampled Universe
U.S. States
This study is freely available to the general public via web download.
  • Has version
    DOI: 10.3886/E119742V1
  • Dynan, Karen, and Douglas Elmendorf. “National Fiscal Policies to Fight Recessions in US States.” AEA Papers and Proceedings 110 (May 2020): 131–36.
    • ID: 10.1257/pandp.20201076 (DOI)

Update Metadata: 2020-07-29 | Issue Number: 1 | Registration Date: 2020-07-29