This paper re-evaluates the effectiveness of temporary transfers in stimulating the macroeconomy using evidence from four case studies. The rebirth of Keynesian stabilization policy has lingering costs in terms of higher debt paths, so it is important to assess the benefits of these policies. In...

We develop comprehensive measures of time spent in market work, home production, schooling, and leisure in the United States for the last 106 years. We find that hours of work for prime age individuals are essentially unchanged, with the rise in women's hours fully compensating for the decline...