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Should the Federal Government Reallocate Funds within Federal Transfers?

Listed author(s):
  • Tiago Neves Sequeira

    ()

    (UBI and INOVA)

  • Alexandra Ferreira-Lopes

    ()

    (ISCTE - Department of Economics, UNIDE-ERC and DINÂMIA)

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://bru-unide.iscte.pt/RePEc/pdfs/ERCwp1608.pdf
File Function: First version, 2008
Download Restriction: no

Paper provided by ISCTE-IUL, Business Research Unit (BRU-IUL) in its series Working Papers Series 1 with number ercwp1608.

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Length: 16 pages
Date of creation: 15 Jun 2008
Handle: RePEc:isc:iscwp1:ercwp1608
Contact details of provider: Web page: http://bru-unide.iscte.pt/
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  1. Pierfederico Asdrubali & Bent E. Sørensen & Oved Yosha, 1996. "Channels of Interstate Risk Sharing: United States 1963–1990," The Quarterly Journal of Economics, Oxford University Press, vol. 111(4), pages 1081-1110.
  2. Bowsher, Clive G., 2002. "On testing overidentifying restrictions in dynamic panel data models," Economics Letters, Elsevier, vol. 77(2), pages 211-220, October.
  3. Paul Cashin & Ratna Sahay, 1996. "Internal Migration, Center-State Grants, and Economic Growth in the States of India," IMF Staff Papers, Palgrave Macmillan, vol. 43(1), pages 123-171, March.
  4. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Oxford University Press, vol. 58(2), pages 277-297.
  5. Howard Chernick, 2010. "Redistribution at the State and Local Level: Consequences for Economic Growth," Public Finance Review, , vol. 38(4), pages 409-449, July.
  6. Gasper A. Garofalo & Steven Yamarik, 2002. "Regional Convergence: Evidence From A New State-By-State Capital Stock Series," The Review of Economics and Statistics, MIT Press, vol. 84(2), pages 316-323, May.
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