Garett Jones sentences to ponder

UCSD’s Valerie Ramey, advisor to CBO and member of the NBER Business Cycle Dating Committee, notes the puzzling result reported by multiple researchers: *More* infrastructure spending predicts *no change or a decline* in jobs:

…Have wonks widely discussed the finding that U.S. infrastructure spending appears to have no positive short-term effect on jobs?

Here is the link, including to research by Valerie Ramey.


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