Tag Archives: fiscal policy

The IRA’s Greenhouse Gas Reduction Fund: A Discussion of Impacts & Recommendations for Implementation 

By | May 19, 2023

In August 2022, President Biden signed the Inflation Reduction Act (IRA), a landmark piece of legislation designed primarily to help the United States decarbonize while reviving domestic manufacturing. One of the most important novel programs in the IRA is the Greenhouse Gas Reduction Fund, or GGRF. The GGRF is a $27 billion pool of grant… Read More »

The Credit Channel of Fiscal Policy Transmission

By | November 9, 2022

A large literature in macroeconomics argues that general equilibrium effects matter for the transmission of fiscal policy shocks.  For example, government spending or taxation changes (fiscal policy) have been shown to spill over through channels such as production factor (labor, capital, etc.) reallocation, output and input price changes, household consumption and saving responses, and monetary… Read More »