University of Chicago
1313 East 60th Street
Chicago, IL 60637
Institutional Affiliation: Chapin Hall at the University of Chicago
NBER Working Papers and Publications
|August 2020||The Effect of Fiscal Stimulus: Evidence from COVID-19|
with , , , , : w27576
Policymakers, faced with different options for replacing lost earnings, have had limited evidence to inform their decisions. The current economic crisis has highlighted the need for data that are local and timely so that different fiscal policy options on local economies can be more immediately evaluated. This paper provides a framework for evaluating real-time effects of fiscal policy on local economic activity using two new sources of near real-time data. The first data source is administrative records that provide universal, weekly, information on unemployment claimants. The second data source is transaction level data on economic activity that are available on a daily basis. We use shift-share approaches, combined with these two data sources and the novel cross-county variation in the ...