The Impact of COVID-19 Fiscal Stimulus on the U.S. Economic Recovery

Released on by Terrie Walmsley
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  • The Impact of COVID-19 Fiscal Stimulus on the U.S. Economic Recovery Book Detail

  • Author : Terrie Walmsley
  • Release Date : 2022
  • Publisher :
  • Genre :
  • Pages : 0
  • ISBN 13 :
  • File Size : 5,5 MB
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The Impact of COVID-19 Fiscal Stimulus on the U.S. Economic Recovery by Terrie Walmsley PDF Summary

Book Description: We estimate the impact of fiscal stimulus measures enacted in response to COVID-19 on U.S. GDP, investment and exports. We apply a dynamic computable general equilibrium model adept at estimating total direct and indirect effects and their time-path. Initial stimulus bills, including the CARES Act, reduced the potential decline in GDP resulting from the pandemic by 7.1 percentage points in early 2020. Later rounds were not as beneficial, largely due to crowding out of investment. Unemployment benefits provided a larger increase in GDP than direct and indirect payments to individuals, and corporate tax relief had a positive impact on growth.

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The Effect of Fiscal Stimulus

The Effect of Fiscal Stimulus

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Policymakers, faced with different options for replacing lost earnings, have had limited evidence to inform their decisions. The current economic crisis has hig