Auerbach, Alan J.; Gorodnichenko, Yuriy; McCrory, Peter; … - 2022
In response to the record-breaking COVID19 recession, many governments have adopted unprecedented fiscal stimuli. While … limits on economic activity. Using detailed regional variation in economic conditions, lockdown policies, and U.S. government … spending, we document that the effects of government spending were stronger during the peak of the pandemic recession, but only …