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Title: A Closer Look at the Employment Effects of Fiscal Policy: What Have Minorities Got to Do With it
Citation Type: Miscellaneous
Publication Year: 2017
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Abstract: By identifying fiscal policy shocks from a narrative approach, we investigate the employment effects of fiscal policy innovations for different racial/ethnic groups by using both micro and macro data. Moreover, following the recent literature on fiscal policy, we examine whether the effects of fiscal policy shocks on the unemployment rate differ between expansions and recessions. Our results show that (i) tax shocks have larger effects, both in terms of magnitude and significance, on the unemployment rate compared to defense spending shocks, ii.) changes in the tax structure have varying employment effects depending on the stage of the business cycle, and (iii) the employment effects of fiscal policy instruments varies across racial and ethnic subgroups especially during recessionary periods.
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Authors: Adnan, Wifag; Arin, Peren; Eruygur, Aysegul; Spagnolo, Nicola
Publisher: NYU
Data Collections: IPUMS CPS
Topics: Labor Force and Occupational Structure, Race and Ethnicity
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