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ID:
175932
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| Summary/Abstract |
President Barack Obama signed the American Recovery and Reinvestment Act (ARRA) into law in 2009. It awarded massive temporary funding for the objective of reviving the national economy. The purpose of this research was to evaluate the effectiveness of some of the ARRA funds in terms of stimulating innovative activities specifically in renewable energy and energy efficiency technologies. The research question was about whether federal ARRA expenditures issued through decentralized state and local intergovernmental grant programs and designed to spur new energy technologies effectively achieved their legislatively stated objectives. The analysis was based upon a first differenced regression model with instrumental variables using data from 2005 to 2015. The analytical evidence indicates that all else held equal, the ARRA funds successfully stimulated innovative activities in these technology fields. We conclude that a decentralized delivery system conducted through intergovernmental grants can effectively allocate federal expenditures for promoting innovative activity in energytechnology-related fields. We also suggest that short-term and temporary funds such as those supplied by the ARRA can provide a positive longerterm return vis-a-vis innovative activity in these fields.
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| 2 |
ID:
171432
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| Summary/Abstract |
In February 2009, President Barack Obama signed into law the American Recovery and Reinvestment Act (ARRA), the largest single expenditure package in U.S. history. The ARRA was legislatively intended as a macroeconomic stimulus to temporarily revive the economy after the Great Recession of 2008. At a microeconomic level, much of the package took the form of grants intended to stimulate the country's energy economy. The purpose of the present research was to evaluate the effectiveness of these large-scale federally-funded-grants in terms of creating jobs related to the energy efficiency and renewable energy sectors throughout the country. The focus was specifically upon the grants implemented through the Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE). The results show that all else held equal, these ARRA expenditures were, by-in-large, successful at stimulating job creation in the relevant energy sectors.
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| 3 |
ID:
138877
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| Summary/Abstract |
This article traces the changing funding relationships between Scotland and the UK government. Beginning from the Barnett Formula, it examines how the changing support within Scotland for greater political autonomy from Westminster has influenced the mechanisms that have determined Scotland's fiscal structure. Increasing support for the SNP, and then for the Yes campaign in the September 2014 independence referendum, has led to a mixture of new powers being granted to the Scottish Parliament. The Scotland Act 2012 extends the Scottish government's control over income tax and some other small taxes. Although independence was rejected by the Scottish people in September 2014, the ‘Vow’ made by the Westminster parties immediately before the vote is leading to far-reaching changes in the UK's fiscal structure. This will cause a very substantial change in intergovernmental relations within the UK, which the Barnett Formula may not survive.
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