Journal of Monetary Economics2013-09-05 2:57 AM

Comment on “The American recovery and reinvestment act: Solely a government jobs program?” by Conley and Dupor

Highlights • Comment on “The American Recovery and Reinvestment Act: Solely A Government Jobs Program?” by Conley and Dupor. • Key implication that ARRA funds to U.S. states created about 5 jobs/year per $1 M. • Estimates suggest 35% of ARRA funds to U.S. states was spent, 65% saved. • ARRA changed U.S. fiscal federalism by nationalizing crisis-related state deficits.

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Journal of Monetary Economics

The Journal of Monetary Economics is a peer-reviewed academic journal covering research on macroeconomics and monetary economics. It is published by Elsevier and was established in October 1973 by Karl Brunner and Charles I. Plosser.

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