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Should the Federal Government Reallocate Funds within Federal Transfers?

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Author Info
Tiago Neves Sequeira () (UBI and INOVA)
Alexandra Ferreira-Lopes () (ISCTE - Department of Economics, UNIDE-ERC and DINÂMIA)

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Abstract

Federal transfers in the USA comprises some components such as retirement and disability payments for individuals, other direct payments for individuals or organizations, grants, procurement contracts, and wages. It is recognized that one of the goals of federal transfers is to alleviate di¢ cult times within states. Is the composition of federal transfers budget having an optimal e¤ect on the business cycle or should the federal government re-allocate some expenditures? In this paper, we argue that federal government may better enhance cyclical output if some reallocation is made from direct payments for individuals to direct payments for organizations, grants, and procurement contracts.

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File URL: http://erc.unide.iscte.pt/wpi/ERCwp1608.pdf
File Format: application/pdf
File Function: First version, 2008
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Publisher Info
Paper provided by ISCTE, UNIDE, Economics Research Centre in its series Working Papers with number ercwp1608.

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Length: 16 pages
Date of creation: 2008
Date of revision:
Handle: RePEc:isc:wpaper:ercwp1608

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Related research
Keywords: Components of Federal Transfers; Cyclical Output; Panel Data; GMM.;

Find related papers by JEL classification:
H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data
O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Paul Cashin & Ratna Sahay, 1995. "Internal Migration, Center-State Grants and Economic Growth in the States of India," IMF Working Papers 95/66, International Monetary Fund.
  2. Sachs, Jeffrey & Sala-i-Martin, Xavier, 1992. "Fiscal Federalism and Optimum Currency Areas: Evidence for Europe from the United States," CEPR Discussion Papers 632, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  3. Maurice Obstfeld & Giovanni Peri, 1998. "Regional non-adjustment and fiscal policy," Economic Policy, CEPR, CES, MSH, vol. 13(26), pages 205-259, 04. [Downloadable!] (restricted)
  4. Asdrubali, Pierfederico & Sorensen, Bent E & Yosha, Oved, 1996. "Channels of Interstate Risk Sharing: United States 1963-1990," The Quarterly Journal of Economics, MIT Press, vol. 111(4), pages 1081-1110, November. [Downloadable!] (restricted)
  5. Bowsher, Clive G., 2002. "On testing overidentifying restrictions in dynamic panel data models," Economics Letters, Elsevier, vol. 77(2), pages 211-220, October. [Downloadable!] (restricted)
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