IDEAS home Printed from https://ideas.repec.org/p/cbo/report/56537.html
   My bibliography  Save this paper

The Effects of Pandemic-Related Legislation on Output

Author

Listed:
  • Congressional Budget Office

Abstract

Federal laws enacted in response to the 2020 coronavirus pandemic are projected to add $2.3 trillion to the deficit in fiscal year 2020 and $0.6 trillion in 2021. CBO estimates that the legislation will increase the level of real (inflation-adjusted) gross domestic product (GDP) by 4.7 percent in 2020 and 3.1 percent in 2021. From fiscal year 2020 through 2023, for every dollar that it adds to the deficit, the legislation is projected to increase GDP by 59 cents. In the longer term, the legislation will reduce the level of real GDP, CBO estimates.

Suggested Citation

  • Congressional Budget Office, 2020. "The Effects of Pandemic-Related Legislation on Output," Reports 56537, Congressional Budget Office.
    • Handle: RePEc:cbo:report:56537
    as

    Download full text from publisher

    File URL: https://www.cbo.gov/system/files/2020-09/56537-pandemic-legislation.pdf
    Download Restriction: no
    ---><---

    Citations

    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rishabh Aggarwal & Adrien Auclert & Matthew Rognlie & Ludwig Straub, 2023. "Excess Savings and Twin Deficits: The Transmission of Fiscal Stimulus in Open Economies," NBER Macroeconomics Annual, University of Chicago Press, vol. 37(1), pages 325-412.
    2. John M. Reilly & Y.-H. Henry Chen & Henry D. Jacoby, 2021. "The COVID-19 effect on the Paris agreement," Palgrave Communications, Palgrave Macmillan, vol. 8(1), pages 1-4, December.

    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbo:report:56537. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/cbogvus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.