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Economic Impact of the American Recovery and Reinvestment Act of 2009, Second Quarterly Report

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Executive Office of the President, Council of Economic Advisors: Economic Impact of the American Recovery and Reinvestment Act of 2009, Second Quarterly Report, January 13, 2010

  • “Evaluating the impact of countercyclical macroeconomic policy is inherently difficult because we do not observe what would have happened to the economy in the absence of policy. And the sooner the evaluation is done, the less data one has about key economic indicators. Any estimates of the impact of the ARRA must therefore be regarded as preliminary and understood to be subject to considerable uncertainty. Because of the inherent difficulties in the analysis, we approach the task of estimating the impact of the Recovery Act from a number of different directions, and supplement our estimates with those of numerous outside analysts.”
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