Do Expiring Budgets Lead to Wasteful Year-End Spending? Evidence from Federal Procurement
---- Acknowledgements ----
We are grateful to Steven Kelman and Shelley Metzenbaum for conversations that stimulated our interest in this topic. We thank seminar audiences at OMB, Stanford, Naval Postgraduate School, MIT Sloan, Harvard, Chicago Booth, Einaudi Institute for Economics and Finance, Yale, and UIC-Chicago for helpful comments and suggestions. Mahoney acknowledges a Kapnick Fellowship, Ric Weiland Fellowship, and the Robert Wood Johnson Foundation for financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.