NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Estimating Local Fiscal Multipliers

Juan Carlos Suárez Serrato, Philippe Wingender

NBER Working Paper No. 22425
Issued in July 2016

---- Acknowledgements ----

We are very grateful for guidance and support from our advisors Alan Auerbach, Patrick Kline and Emmanuel Saez. We are also indebted to David Albouy, Peter Arcidiacono, Pat Bayer, Charles Becker, Mattias Cattaneo, David Card, Allan Collard-Wexler, Raj Chetty, Gabriel Chodorow-Reich, Rebecca Diamond, Colleen Donovan, Daniel Egel, Fred Finan, Dan Garrett, Chelsea Garber, Charles Gibbons, Yuriy Gorodnichenko, Ashley Hodgson, Erik Hurst, Shachar Kariv, Yolanda Kodrzycki, Zach Liscow, Day Manoli, Suresh Naidu, Matthew Panhans, Steve Raphael, Ricardo Reis, David Romer, Jesse Rothstein, John Karl Scholz, Dean Scrimgeour and Daniel Wilson for comments and suggestions. Stephanie Karol, Matthew Panhans, and Irina Titova provided excellent research assistance. All errors remain our own. We are grateful for financial support from the Center for Equitable Growth, the Robert D. Burch Center for Tax Policy and Public Finance, IGERT, IBER, the John Carter Endowment at UC Berkeley and the NBER Summer Institute. Suárez Serrato gratefully acknowledges support from the Kauffman Foundation. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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