Should the Federal Government Reallocate Funds within Federal Transfers?
Tiago Neves Sequeira
Federal transfers in the USA comprises some components such as retirement and disability payments for individuals, other direct payments for individuals or organizations, grants, procurement contracts, and wages. It is recognized that one of the goals of federal transfers is to alleviate di¢ cult times within states. Is the composition of federal transfers budget having an optimal e¤ect on the business cycle or should the federal government re-allocate some expenditures? In this paper, we argue that federal government may better enhance cyclical output if some reallocation is made from direct payments for individuals to direct payments for organizations, grants, and procurement contracts.
Components of Federal Transfers, Cyclical Output, Panel Data, GMM.
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