IDEAS home Printed from https://ideas.repec.org/a/fip/fednci/y2012iseptnv.18no.6.html
   My bibliography  Save this article

The American Recovery and Reinvestment Act of 2009: a review of stimulus spending in New York and New Jersey

Author

Listed:
  • James A. Orr
  • John Sporn

Abstract

The ARRA stimulus package was designed to spur economic and employment growth in response to a deepening U.S. recession and the weakened fiscal conditions of many state governments. An analysis of the local allocation of ARRA funds shows that the $35 billion of stimulus spending in New York was relatively concentrated in expanded funding for Medicaid, while a large share of the $12 billion allocated to New Jersey went to extending unemployment insurance benefits. While ARRA funding supplemented tax revenues in both states in fiscal years 2010 and 2011, the program's spending components are winding down, and New York and New Jersey can no longer rely on these federal transfers when preparing their budgets.

Suggested Citation

  • James A. Orr & John Sporn, 2012. "The American Recovery and Reinvestment Act of 2009: a review of stimulus spending in New York and New Jersey," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 18(Sept).
  • Handle: RePEc:fip:fednci:y:2012:i:sept:n:v.18no.6
    as

    Download full text from publisher

    File URL: https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci18-6.html
    Download Restriction: no

    File URL: https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci18-6.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rajashri Chakrabarti & Sarah Sutherland, 2013. "Precarious slopes? The Great Recession, federal stimulus, and New Jersey schools," Economic Policy Review, Federal Reserve Bank of New York, issue Dec, pages 41-65.
    2. Jaison R. Abel & Richard Deitz, 2010. "Bypassing the bust: the stability of upstate New York's housing markets during the recession," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(Mar).
    3. Rajashri Chakrabarti & Elizabeth Setren, 2011. "The impact of the Great Recession on school district finances: evidence from New York," Staff Reports 534, Federal Reserve Bank of New York.
    4. Daniel J. Wilson, 2009. "Are fiscal stimulus funds going to the \\"right\\" states?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue apr17.
    5. Jaison R. Abel & Richard Deitz, 2008. "New measures of economic growth and productivity in upstate New York," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 14(Dec).
    6. Jason Bram & James A. Orr & Robert W. Rich & Rae D. Rosen & Joseph Song, 2009. "Is the worst over? Economic indexes and the course of the recession in New York and New Jersey," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 15(Sep).
    7. Richard Deitz & Andrew F. Haughwout & Charles Steindel, 2010. "The recession's impact on the state budgets of New York and New Jersey," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(Jun/Jul).
    8. Jason Bram & Francisco E. Martinez & Charles Steindel, 2008. "Trends and developments in the economy of Puerto Rico," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 14(Mar).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Olivier Blanchard & Christopher J. Erceg & Jesper Lindé, 2017. "Jump-Starting the Euro-Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?," NBER Macroeconomics Annual, University of Chicago Press, vol. 31(1), pages 103-182.
    2. Rajashri Chakrabarti & Sarah Sutherland, 2013. "New Jersey’s Abbott districts: education finances during the Great Recession," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 19(Jun).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Richard Deitz & Andrew F. Haughwout & Charles Steindel, 2010. "The recession's impact on the state budgets of New York and New Jersey," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(Jun/Jul).
    2. Ravi Bhalla & Rajashri Chakrabarti & Max Livingston, 2017. "A tale of two states: the recession’s impact on N.Y. and N.J. school finances," Economic Policy Review, Federal Reserve Bank of New York, issue 23-1, pages 30-42.
    3. Rajashri Chakrabarti & Sarah Sutherland, 2013. "Precarious slopes? The Great Recession, federal stimulus, and New Jersey schools," Economic Policy Review, Federal Reserve Bank of New York, issue Dec, pages 41-65.
    4. Ethan Haswell & Adam Scavette, 2016. "Is Urban Cool Cooling New Jersey’s Job Market?," Research Brief, Federal Reserve Bank of Philadelphia, issue Q4.
    5. Lu Han & William C. Strange, 2014. "Bidding Wars for Houses," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 1-32, March.
    6. Rajashri Chakrabarti & Max Livingston, 2021. "Tough Choices: New Jersey Schools during the Great Recession and Beyond," Economic Policy Review, Federal Reserve Bank of New York, vol. 27(1), pages 1-34, July.
    7. Rajashri Chakrabarti & Sarah Sutherland, 2012. "Abbott and Bacon Districts: education finances during the Great Recession," Staff Reports 573, Federal Reserve Bank of New York.
    8. Michael Brocker & Christopher Hanes, 2014. "The 1920s American Real Estate Boom and the Downturn of the Great Depression: Evidence from City Cross-Sections," NBER Chapters, in: Housing and Mortgage Markets in Historical Perspective, pages 161-201, National Bureau of Economic Research, Inc.
    9. Jaison R. Abel & Richard Deitz, 2012. "How severe was the credit cycle in the New York-northern New Jersey region?," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 18(Nov).
    10. William N. Evans & Robert M. Schwab & Kathryn L. Wagner, 2019. "The Great Recession and Public Education," Education Finance and Policy, MIT Press, vol. 14(2), pages 298-326, Spring.
    11. Arias, Maria A. & Gascon, Charles S. & Rapach, David E., 2016. "Metro business cycles," Journal of Urban Economics, Elsevier, vol. 94(C), pages 90-108.
    12. Jaison R. Abel & Richard Deitz, 2010. "Bypassing the bust: the stability of upstate New York's housing markets during the recession," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(Mar).
    13. Rajashri Chakrabarti & Max Livingston & Elizabeth Setren, 2015. "The Great Recession’s impact on school district finances in New York State," Economic Policy Review, Federal Reserve Bank of New York, issue 12-1, pages 45-66.
    14. Rajashri Chakrabarti & Sarah Sutherland, 2013. "New Jersey’s Abbott districts: education finances during the Great Recession," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 19(Jun).
    15. Glaeser, Edward L. & Nathanson, Charles G., 2015. "Housing Bubbles," Handbook of Regional and Urban Economics, in: Gilles Duranton & J. V. Henderson & William C. Strange (ed.), Handbook of Regional and Urban Economics, edition 1, volume 5, chapter 0, pages 701-751, Elsevier.
    16. Bill Dupor & M. Saif Mehkari, 2020. "Schools and Stimulus," Review, Federal Reserve Bank of St. Louis, vol. 102(2), pages 145-171, May.
    17. Edward L. Glaeser & Charles G. Nathanson, 2014. "Housing Bubbles," NBER Working Papers 20426, National Bureau of Economic Research, Inc.
    18. Philip Arestis & Ana Rosa González-Martínez, 2015. "Is Job Insecurity a Driver of the Housing Cycle? Some Evidence in the Spanish Case," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 62(1), pages 1-14, March.
    19. Philip Arestis & Ana Rosa González-Martínez, 2015. "Residential Construction Activity in OECD Economies," Manchester School, University of Manchester, vol. 83(4), pages 451-474, July.
    20. Eric Doviak & Sean MacDonald, 2010. "Forecasting the New York State Economy with "Terraced" VARs and Coincident Indices," New York Economic Review, New York State Economics Association (NYSEA), vol. 41(1), pages 14-34.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fednci:y:2012:i:sept:n:v.18no.6. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/frbnyus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (email available below). General contact details of provider: https://edirc.repec.org/data/frbnyus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.