NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Local Fiscal Multipliers and Fiscal Spillovers in the United States

Alan J. Auerbach, Yuriy Gorodnichenko, Daniel Murphy

NBER Working Paper No. 25457
Issued in January 2019

---- Acknowledgments ----

This paper was presented at the 19th IMF Jacques Polak Annual Research Conference, November 1-2, 2018 and the American Economic Association Annual Meeting, January 4-6, 2019. We are grateful to our discussants, Christopher Erceg and Christoph Boehm, for comments on earlier drafts, and Peter McCrory, Hanna Charankevich, Jianlin Wang, and Chaoran Yu as well as Carlos Paramo, Preethan Gujjula, Naman Priyadarshi, Jeffrey Landes, Lingyun Xiao, and Mihir Gokhale for excellent research assistance. 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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