whitehouse.gov - 7/16/2009
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EXECUTIVE OFFICE OF THE PRESIDENT COUNCIL OF ECONOMIC ADVISERS "Seal of the Executive Office of the President of the United States" ESTIMATES OF JOB CREATION FROM THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 Click here to download printable PDF
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Casey Mulligan on the Stimulus: Stock-Flow Mismatch, Sectoral Stimulus Mismatch, and Construction Crowding Out
Econbrowser —
... Note that $787 is spent over several years (a flow). 3.5 million jobs is a stock. But wouldn't we want to incorporate how long those jobs would be around? That suggests we should use job-years instead of jobs, to make the numerator and denominator comparable. The Administration estimated the number at 6.8 million [2]. That works out to a cost per job-year of $116 thousand. ...
You call that a bargain?
SCSUScholars —
... Note that $787 [billion in stimulus] is spent over several years (a flow). 3.5 million jobs is a stock. But wouldn't we want to incorporate how long those jobs would be around? That suggests we should use job-years instead of jobs, to make the numerator and denominator comparable. The Administration estimated the number at 6.8 million [2]. That works out to a cost per job-year of $116 thousand. ...
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