The Employment Effects of Countercyclical Public Investments
Zusammenfassung
This paper estimates the causal impact of a sizable German public investment program on employment at the county level. The program focused on improving the energy efficiency of school buildings, making it possible to use the number of schools as an instrument for investments. It also enforced tight deadlines, reducing potential implementation lags. The program was cost-effective, creating, on average, one job for one year for an investment of €24,000. The employment gains are detectable after nine months and are accompanied by an unemployment reduction amounting to half of the job creation. Employment grew predominately in the directly affected industries.
Schlüsselwörter
Public Investment; Jobs Multiplier; Sustainability
Zitieren als
Buchheim, L., & Watzinger, M. (2023). The Employment Effects of Countercyclical Public Investments. American Economic Journal: Economic Policy, 15(1), 154–173.Details
Publikationstyp
Forschungsartikel (Zeitschrift)
Begutachtet
Ja
Publikationsstatus
Veröffentlicht
Jahr
2023
Fachzeitschrift
American Economic Journal: Economic Policy
Band
15
Ausgabe
1
Erste Seite
154
Letzte Seite
173
Sprache
Englisch
ISSN
1945-7731
DOI
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