Publication: Did the States Pocket the Obama Stimulus Money: Lessons from Cross-Section Regression and Interviews with State Officials
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2015
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University of Massachusetts Amherst
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Marglin, Stephen A, and Peter M Spiegler. 2015. Did the States Pocket the Obama Stimulus Money: Lessons from Cross-Section Regression and Interviews with State Officials. Political Economy Research Institute (PERI) of the University of Massachusetts Amherst Working Paper 371.
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Abstract
This paper deploys cross-section regressions and open-ended interviews to assess the impact of grants to the states under the Obama stimulus (ARRA) of 2009-2011. Contrary to John Taylor and John Cogan (Taylor 2011a, b; Cogan and Taylor 2012), who conclude that the states saved rather than spent the grants, we estimate that approximately two-thirds of every ARRA dollar was spent by the states and one-third saved.
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