Did the American Recovery and Reinvestment Act (ARRA) Fund an Optimal Mix of Tax Reductions and Direct Government Spending? PDF Download
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Author: L. Jan Reid
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
The American Recovery and Reinvestment Act (ARRA) was passed in response to widespread fears that that United States was in danger of slipping into a 1930s-style economic depression. Once the ARRA was introduced, the economic debate centered on tax reductions versus direct government spending. Old arguments resurfaced about the effectiveness of the Roosevelt New Deal, the 1936-1938 recession, and the theoretical views of both Keynesian and neoclassical economists. I briefly review the economic literature and discuss the economic arguments of both sides.My research accounts for economic adjustment, and seeks to calculate the optimal mix of tax reductions and direct government spending using three different standards: effect on Real Gross Domestic Product, effect on the stock market , and effect on the U.S. civilian unemployment rate.I found that ARRA did not fund an optimal mix of tax reductions and direct government spending because ARRA included subsidies to individual states, loan guarantees, and other subsidies.
Author: L. Jan Reid
Publisher:
ISBN:
Category :
Languages : en
Pages : 39
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Book Description
The American Recovery and Reinvestment Act (ARRA) was passed in response to widespread fears that that United States was in danger of slipping into a 1930s-style economic depression. Once the ARRA was introduced, the economic debate centered on tax reductions versus direct government spending. Old arguments resurfaced about the effectiveness of the Roosevelt New Deal, the 1936-1938 recession, and the theoretical views of both Keynesian and neoclassical economists. I briefly review the economic literature and discuss the economic arguments of both sides.My research accounts for economic adjustment, and seeks to calculate the optimal mix of tax reductions and direct government spending using three different standards: effect on Real Gross Domestic Product, effect on the stock market , and effect on the U.S. civilian unemployment rate.I found that ARRA did not fund an optimal mix of tax reductions and direct government spending because ARRA included subsidies to individual states, loan guarantees, and other subsidies.
Author: L. Jan Reid
Publisher:
ISBN:
Category :
Languages : en
Pages : 17
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Book Description
The United States Congress approved the American Recovery and Reinvestment Act (ARRA) on February 13, 2009. U.S. President Barack Obama signed the bill into law on February 17, 2009. ARRA was passed in response to widespread fears that the United States was in danger of slipping into a 1930s-style economic depression. After ARRA was enacted, related economic debate centered on tax reductions versus direct federal-government spending. Old arguments resurfaced about the effectiveness of the “New Deal” programs instituted by U.S. President Franklin Roosevelt; the 1936-1938 recession; and the theoretical views of both Keynesian and neoclassical economists.Since ARRA was passed, a number of economists have criticized the effectiveness of the stimulus program. Criticisms have ranged from arguments that “the stimulus was too small to be effective” to assertions of ARRA's failure to address the shortage of qualified workers in the labor force.I briefly review some of these arguments and conduct empirical tests to determine their validity.
Author: Christina Romer
Publisher: DIANE Publishing
ISBN: 1437936180
Category : Business & Economics
Languages : en
Pages : 56
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Book Description
This is a print on demand edition of a hard to find publication. As part of the unprecedented accountability and transparency provisions included in the American Recovery and Reinvestment Act of 2009, the Council of Economic Advisers is charged with providing to Congress quarterly reports on the effects of the Recovery Act on overall economic activity, and on employment in particular. This 4th report provides an assessment of the effects of the Act through the second quarter of 2010. Contents: Intro.; The Progress of Spending and Tax Reductions under the Recovery Act; Evidence of the Economic Impact of the Recovery Act; The Public Investment Provisions of the Recovery Act; Provisions of the Recovery Act That Leverage Other Spending; Conclusion; Appendix: Estimated Employment Effects by State.
Author: Benjamin Page
Publisher: DIANE Publishing
ISBN: 1437982298
Category : Reference
Languages : en
Pages : 20
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Book Description
The American Recovery and Reinvestment Act of 2009 (ARRA) contains provisions that are intended to boost economic activity and employment in the U.S. Section 1512(e) of the law requires comment on reports filed by recipients of ARRA funding that detail the number of jobs funded through their activities. This report fulfills that requirement. It also provides estimates of ARRA's overall impact on employment and economic output in the 4th quarter of calendar year 2010. Those estimates -- which the report considers more comprehensive than the recipients' reports -- are based on evidence from similar policies enacted in the past and on the results of various economic models. Charts and tables. This is a print on demand report.
Author: Michael Kardalinos
Publisher: GRIN Verlag
ISBN: 3668250308
Category : Business & Economics
Languages : en
Pages : 30
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Book Description
Bachelor Thesis from the year 2016 in the subject Economics - Economic Cycle and Growth, grade: 1,00, Jacobs University Bremen gGmbH, language: English, abstract: The paper analyses the impact of the American Recovery and Reinvestment Act of 2009 (ARRA) to answer the question whether the stimulus was an appropriate crisis response. This is done by looking at the official purposes of the Act, namely, Job creation and promotion of economic recovery, assisting those most impacted by the recession, state and local government budget stabilization and long-term investments. It is an interesting read for everyone who wants to know more about the effectiveness of deficit spending during the Great Recession.
Author: Benjamin Page
Publisher: DIANE Publishing
ISBN: 1437938450
Category : Business & Economics
Languages : en
Pages : 20
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Book Description
The American Recovery and Reinvestment Act of 2009 (ARRA) contains a variety of provisions intended to boost economic activity and employment in the U.S. Section 1512(e) of the law requires the author to comment on the reports filed by certain recipients of funding under ARRA that detail how many jobs were created or retained through funded activities. This report fulfills that requirement. It also provides estimates of ARRA¿s overall impact on employment and economic output in the second quarter of calendar year 2010. Those estimates are based on evidence from similar policies enacted in the past and on the results of various economic models. Charts and tables. This is a print on demand edition of an important, hard-to-find publication.
Author: Federal Government
Publisher: Government Institutes
ISBN: 1605906670
Category : Business & Economics
Languages : en
Pages : 515
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Book Description
Full text of the American Recovery and Reinvestment Act of 2009.
Author: Elise Taylor
Publisher:
ISBN: 9781633213951
Category : Political Science
Languages : en
Pages : 79
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Book Description
In February 2009, in response to significant weakness in the economy, lawmakers enacted the American Recovery and Reinvestment Act (ARRA). The legislations numerous spending and revenue provisions can be grouped into several categories according to their focus, which include, providing funds to states and localities; supporting people in need; purchasing goods and services; and providing temporary tax relief for individuals and businesses. This book discusses the economic impact of the ARRA five years after its enactment.
Author: Paul G. Tellis
Publisher:
ISBN: 9781616683559
Category : Economic development projects
Languages : en
Pages : 0
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Book Description
On 13 February 2009, both the House and Senate passed the conference version of H.R. 1, the American Recovery and Reinvestment Act of 2009 (ARRA). The primary purposes of the ARRA focus on promoting economic recovery, assisting those most affected by the recession, improving economic efficiency by "spurring technological advances in science and health," investing in infrastructure, and stabilising state and local government budgets. This book provides a brief overview of the key provisions of the ARRA including the agriculture, nutrition, and rural provisions; medicaid provisions; a summary and legislative history of the Act; and the estimated impact on employment and economic output as of September 2009.
Author: Eileen Norcross
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
To end the current recession, Congress and the Obama administration propose the American Recovery and Reinvestment Act of 2009 (ARRA), an $825 billion fiscal stimulus package made up of tax cuts and federal spending. A significant component of this package consists of federal grants meant to help states facing unprecedented budget shortfalls. While federal grants may provide temporary relief for state budgets, the size and scope of the proposed spending will worsen already-distorted state and local fiscal practices while creating perverse incentives inducing greater public spending with scarce state funds. By fracturing the link between those who benefit (local constituencies) and those who pay (federal taxpayers), ARRA reduces government accountability on all levels and ultimately erodes local control over policy by imposing federal solutions on local problems. Instead of attempting a short-term fix of amplifying the grant system through an emergency stimulus package, the federal government should work to make state and local governments accountable for their own spending decisions. This means reducing states' and localities' reliance on federal funding for local priorities and allowing local activities to be addressed by the appropriate mechanisms: state and local governments and the private and philanthropic sectors.
