Consequences for the Economy of Large Federal Budget Deficits
Author | : United States. Congress. House. Committee on the Budget |
Publisher | : |
Total Pages | : 172 |
Release | : 1989 |
Genre | : Budget deficits |
ISBN | : |
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Author | : United States. Congress. House. Committee on the Budget |
Publisher | : |
Total Pages | : 172 |
Release | : 1989 |
Genre | : Budget deficits |
ISBN | : |
Author | : L.H. Meyer |
Publisher | : Springer Science & Business Media |
Total Pages | : 243 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9400966849 |
On October 29 and 30, 1982, the Center for the Study of American Business and the Institute for Banking and Financial Markets at Washington "The Economic Consequences of University cosponsored a conference on Government Deficits. " This was the sixth annual Economic Policy Con ference sponsored by the Center, and the first it has cosponsored with the Institute. This book contains the papers and comments delivered at that conference. Recent and prospective large federal deficits have prompted a thorough reconsideration of the political sources and economic consequences of government deficits. The papers in Part I focus on the implications of deficits for monetary growth and inflation, and the papers in Part II consider the effect of deficits on interest rates and capital formation. The papers in Part III deal with the political sources and remedies for the explosive growth in government spending and increased reliance on deficits. The papers in Part I by Alan S. Blinder, Professor of Economics at Princeton University, and Preston J. Miller, Assistant Vice President and Research Advisor at the Federal Reserve Bank of Minneapolis, discuss the relation between monetary growth and deficits and present evidence on the of deficits on inflation and output. A deficit is said to be monetized effects vii viii THE ECONOMIC CONSEQUENCES OF GOVERNMENT DEFICITS when the Federal Reserve purchases bonds to aid the Treasury in financing the deficit.
Author | : United States. Congress. House. Committee on the Budget |
Publisher | : |
Total Pages | : 0 |
Release | : 1989 |
Genre | : Budget deficits |
ISBN | : |
Author | : Mr.Daniel Leigh |
Publisher | : International Monetary Fund |
Total Pages | : 41 |
Release | : 2011-07-01 |
Genre | : Business & Economics |
ISBN | : 1455294691 |
This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Author | : Daniel Shaviro |
Publisher | : University of Chicago Press |
Total Pages | : 362 |
Release | : 1997-05 |
Genre | : Business & Economics |
ISBN | : 9780226751122 |
Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national saving, and the level of government spending. And no, because the deficit is an inaccurate measure with little economic content. This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Its analysis, deftly integrating considerations of economics, law, politics, and philosophy, brings the issues of 'balanced budgets,' national saving, and intergenerational equity out of the area of religious crusades and into an arena of reason. . . . A magnificent, judicious, and balanced treatment. It should be read and studied not just by specialists in fiscal policy but by all those in the economic and political community."—Robert Eisner, Journal of Economic Literature "Shaviro's history, economics, and political analysis are right on the mark. For all readers."—Library Journal
Author | : United States. Congress. Senate. Committee on Finance. Subcommittee on Deficits, Debt Management, and International Debt |
Publisher | : |
Total Pages | : 100 |
Release | : 1993 |
Genre | : Business & Economics |
ISBN | : |
Author | : Jamie Malone |
Publisher | : Nova Science Publishers |
Total Pages | : 0 |
Release | : 2016 |
Genre | : Business & Economics |
ISBN | : 9781536102680 |
The federal government incurs a budget deficit (also known as a net deficit) when its total outgoing payments (outlays) exceed the total money it collects (revenues). If instead federal revenues are greater than outlays, then the federal government generates a surplus. Deficits are measured over the course of a defined period of time -- in the case of the federal government, a fiscal year. Over time, persistent budget deficits can hamper economic growth. Federal debt, either publicly held or intragovernmental, is funded through private capital. In the absence of federal debt, a portion of such funding would likely have been used on private investment projects that could increase the future productive capabilities of the economy. Large or rapidly increasing debt levels could also make the economy more susceptible to a recession, although that dynamic has not manifested itself in the United States. This book explores distinctions in the concept and composition of deficits and debt, explains how these two measures interact, and discusses their possible effects on the economy. Furthermore, the book discusses the size of projected budget deficits; how much the deficit would need to be reduced to return to long-term sustainability; analyzes alternative time frames for reducing the deficit; and discusses broad policy choices for reducing the deficit.
Author | : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization |
Publisher | : |
Total Pages | : 108 |
Release | : 1992 |
Genre | : Business & Economics |
ISBN | : |
Author | : Allen Schick |
Publisher | : Brookings Institution Press |
Total Pages | : 362 |
Release | : 2008-05-31 |
Genre | : Business & Economics |
ISBN | : 0815777329 |
The federal budget impacts American policies both at home and abroad, and recent concern over the exploding budgetary deficit has experts calling our nation's policies "unsustainable" and "system-dooming." As the deficit continues to grow, will America be fully able to fund its priorities, such as an effective military and looking after its aging population? In this third edition of his classic book The Federal Budget, Allen Schick examines how surpluses projected during the final years of the Clinton presidency turned into oversized deficits under George W. Bush. In his detailed analysis of the politics and practices surrounding the federal budget, Schick addresses issues such as the collapse of the congressional budgetary process and the threat posed by the termination of discretionary spending caps. This edition updates and expands his assessment of the long-term budgetary outlook, and it concludes with a look at how the nation's deficit will affect America now and in the future. "A clear explanation of the federal budget... [Allen Schick] has captured the politics of federal budgeting from the original lofty goals to the stark realities of today."—Pete V. Domenici, U.S. Senate