Regional Cycles and Employment Effects of Public Works Investments.
Provides information to guide the design of a countercyclical public works program and to serve as a foundation for future research in the area of countercyclical policy. The report describes the timing, duration, amplitude, and severity of cycles in employment levels in all states (except Alaska, Hawaii and North Dakota) and 149 labor market areas during each of the five post-1960 national classical and growth cycles; provides estimates of the direct, indirect, and total employment effects of 22 types of public works projects; identifies major supplying industries of public works in which bottlenecks might arise given a prespecified level of expenditures; and assesses the extent to which countercyclical public works investments would provide employment opportunities for the cyclically unemployed. 375 pp. Ref.