In a survey published by Scioto Analysis this morning, 23 of 32 Ohio economists said state payments to firms to keep employees on payroll is an effective way to speed the state's recovery from recession.
Those who agreed with the statement stressed the importance of federal funds to support such a program, saying that cuts to other state programs could end up undoing any of the benefit of such a program. Respondents also stressed the importance of targeting, transparency, and workplace safety in the payment scheme.
Of the nine economists who were uncertain or disagreed with the statement, reservations ranged from the importance of federal funding due to Ohio’s balanced budget amendment to the nature of the current recession compared to other recessions and inefficiencies wrought by discouraging “creative destruction.”
The Ohio Economic Experts Panel is a panel of over 40 Ohio Economists from over 30 Ohio higher educational institutions conducted by Scioto Analysis. The goal of the Ohio Economic Experts Panel is to promote better policy outcomes by providing policymakers, policy influencers, and the public with the informed opinions of Ohio’s leading economists.
If you would like to suggest a question for a future Ohio Economic Experts Panel, email your ideas to panel@sciotoanalysis.com.