new HBS paper SHREDS keynesian theory, libs mad
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Date: February 29th, 2012 1:33 PM Author: ocher plaza halford
http://www.people.hbs.edu/cmalloy/pdffiles/envaloy.pdf
"Our key innovation is to use changes in congressional committee chairmanship as a source of exogenous variation in state-level federal expenditures. In doing so, we show that fiscal spending shocks appear to significantly dampen corporate sector investment and employment activity. This retrenchment follows both Senate and House committee chair changes, occurs in large and small firms and within large and small states, and is most pronounced among geographically-concentrated firms."
(http://www.autoadmit.com/thread.php?thread_id=1886680&forum_id=2#20083546) |
Date: February 29th, 2012 1:36 PM Author: Histrionic Frum University Juggernaut
We show that becoming a powerful committee chair results in a significant increase in federal funds flowing to the ascending chairman’s state.2 Thus, a congressman’s ascension to a powerful committee chair creates a positive shock to his or her state’s share of federal funds that is virtually independent of the state’s economic conditions.
NO FUCKIN WAY--WHAT A SCHOLAR
(http://www.autoadmit.com/thread.php?thread_id=1886680&forum_id=2#20083555) |
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