In Search of the Multiplier for Federal Spending in the
... level. Hulten and Schwab (1991) conclude that the link between public infrastructure and states’ economic growth is weak, as the states that expanded public infrastructure the most in the 1970s were not the ones that developed faster during that period. Munnell (1992 192) finds a significant effect ...
... level. Hulten and Schwab (1991) conclude that the link between public infrastructure and states’ economic growth is weak, as the states that expanded public infrastructure the most in the 1970s were not the ones that developed faster during that period. Munnell (1992 192) finds a significant effect ...
Chapter 3: FISCAL REPAIR: PAINFUL BUT NECESSARY
... The coalition government plans to cut public borrowing over a seven-year period through to 2016–17. Some tax increases and spending cuts have already been implemented, but many more are yet to come. In order to increase confidence that the government will stay the course with this ambitious deficit ...
... The coalition government plans to cut public borrowing over a seven-year period through to 2016–17. Some tax increases and spending cuts have already been implemented, but many more are yet to come. In order to increase confidence that the government will stay the course with this ambitious deficit ...
Can Government Purchases Stimulate the Economy?
... tend to find multipliers in the range of those discussed here for the U.S.1 Since most aggregate studies measure what happens on average when government spending changes, it is very important to keep track of the characteristics of the experiments covered by the analyses. For example, to measure the ...
... tend to find multipliers in the range of those discussed here for the U.S.1 Since most aggregate studies measure what happens on average when government spending changes, it is very important to keep track of the characteristics of the experiments covered by the analyses. For example, to measure the ...
The composition of government spending and the multiplier at the
... ducing productive government spending in the fiscal package can reduce the size of the output multiplier in a liquidity trap (see Bouakez & Guillard (2013), Roulleau-Pasdeloup (2013)). Let us begin with the second polar case, ARRA2. In this case, productive government spending generates a deflation ...
... ducing productive government spending in the fiscal package can reduce the size of the output multiplier in a liquidity trap (see Bouakez & Guillard (2013), Roulleau-Pasdeloup (2013)). Let us begin with the second polar case, ARRA2. In this case, productive government spending generates a deflation ...
Fiscal Policy and Social Security Policy During the 1990s Douglas
... The second respect in which the fiscal landscape was transformed during the 1990s is in the presumed goal of fiscal policy. Until the past few years, debate and decisionmaking about the federal budget almost invariably were conducted in terms of the unified budget, and the fiscal objective was gene ...
... The second respect in which the fiscal landscape was transformed during the 1990s is in the presumed goal of fiscal policy. Until the past few years, debate and decisionmaking about the federal budget almost invariably were conducted in terms of the unified budget, and the fiscal objective was gene ...
THE CLINTON vs. TRUMP DEBATE ON
... What is the difference between movements along a demand or supply curve and shifts in a demand or supply curve? ................................................................... 48 ...
... What is the difference between movements along a demand or supply curve and shifts in a demand or supply curve? ................................................................... 48 ...
Time for a New Budget Concepts Commission
... budget. Previously, the focus of the federal budget was on the administrative budget and did not include trust funds. The new unified budget, however, included trust funds and thus provided a more comprehensive measure of government activities. Prior to the Congressional Budget and Impoundment Act o ...
... budget. Previously, the focus of the federal budget was on the administrative budget and did not include trust funds. The new unified budget, however, included trust funds and thus provided a more comprehensive measure of government activities. Prior to the Congressional Budget and Impoundment Act o ...
Responding to Seniors` Needs and Improving Medicare Choices
... less than half as large as the shortfall in 2009, which was 10.1 percent of GDP. Because revenues, under current law, are projected to rise more rapidly than spending in the next two years, deficits in CBO’s baseline projections continue to shrink, falling to 2.1 percent of GDP by 2015 (see Table 1 ...
... less than half as large as the shortfall in 2009, which was 10.1 percent of GDP. Because revenues, under current law, are projected to rise more rapidly than spending in the next two years, deficits in CBO’s baseline projections continue to shrink, falling to 2.1 percent of GDP by 2015 (see Table 1 ...
FTA at 15, NAFTA at 10: a Canadian perspective on North American
... The shift of trade is evident in Fig. 3, adopted from Coulombe (2002), where the trade share is defined as (X + M)/GDP for both interprovincial and international trade.2 What this “L-curve” reveals is that Canada’s international trade share remained roughly constant from 1981 to 1991, whereas interp ...
... The shift of trade is evident in Fig. 3, adopted from Coulombe (2002), where the trade share is defined as (X + M)/GDP for both interprovincial and international trade.2 What this “L-curve” reveals is that Canada’s international trade share remained roughly constant from 1981 to 1991, whereas interp ...
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... GDP (expressed in current US dollar) was over 60,000 US dollars in Australia versus Bank data. The TPP countries form a dynamic region, just 2,000 US dollars in Vietnam. In purchasing power and the region’s rising income level makes it an increasparities (PPP), discrepancies look similarly large.2 i ...
... GDP (expressed in current US dollar) was over 60,000 US dollars in Australia versus Bank data. The TPP countries form a dynamic region, just 2,000 US dollars in Vietnam. In purchasing power and the region’s rising income level makes it an increasparities (PPP), discrepancies look similarly large.2 i ...
This PDF is a selec on from a published volume... Bureau of Economic Research
... their responses might vary over the business cycle. This type of information is of great interest for understanding how people respond to shocks. As the authors themselves emphasize, it is not so clear whether the analysis sheds light specifically on the government spending multiplier, as discussed ...
... their responses might vary over the business cycle. This type of information is of great interest for understanding how people respond to shocks. As the authors themselves emphasize, it is not so clear whether the analysis sheds light specifically on the government spending multiplier, as discussed ...
Fiva-ngs05 762327 en
... Nonetheless, have many countries assigned considerable responsibility for redistribution to sub-central levels of government. Consequently, one would expect to find that more fiscally decentralized countries will facilitate stronger intergovernmental competition, yielding a smaller public sector.1 F ...
... Nonetheless, have many countries assigned considerable responsibility for redistribution to sub-central levels of government. Consequently, one would expect to find that more fiscally decentralized countries will facilitate stronger intergovernmental competition, yielding a smaller public sector.1 F ...
Episodes of War and Peace in an Estimated Open Economy
... spending spillover is muted but productivity and investment spillovers are negative and significant. Both contribute to lower investment and GDP. For France, the trade spillover is also negative and very large. Our main conclusion is thus that the approach proposed by Braun and McGrattan (1993) and ...
... spending spillover is muted but productivity and investment spillovers are negative and significant. Both contribute to lower investment and GDP. For France, the trade spillover is also negative and very large. Our main conclusion is thus that the approach proposed by Braun and McGrattan (1993) and ...
FEDERAL BUDGET POLICY AND DEFENSE STRATEGY Dennis S. Ippolito February 15, 1996
... occurred. There has been a second and related change in the shape of the budget, with the displacement of discretionary spending by nondiscretionary, or mandatory, spending.18 In the early 1960s, total discretionary spending (defense and nondefense) absorbed about 70 percent of the Federal budget. B ...
... occurred. There has been a second and related change in the shape of the budget, with the displacement of discretionary spending by nondiscretionary, or mandatory, spending.18 In the early 1960s, total discretionary spending (defense and nondefense) absorbed about 70 percent of the Federal budget. B ...
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... Table 1 shows how a number of studies on TTIP differ with respect to their employed methodologies and overall results4. Starting from the bottom of the table, it is obvious that the cited studies have produced a wide range of estimates from very optimistic and positive to rather depressing and negat ...
... Table 1 shows how a number of studies on TTIP differ with respect to their employed methodologies and overall results4. Starting from the bottom of the table, it is obvious that the cited studies have produced a wide range of estimates from very optimistic and positive to rather depressing and negat ...
Policy Brief 17-16: The Payoff to America from Globalization: A Fresh
... increased trade in the manufacturing sector (imports and exports) led to a net figure of around 156,250 US jobs per year adversely affected during the period 2001 to 2016.2 Of these, about 100,000 were manufacturing jobs and the rest were mainly indirect services jobs. Calculations also suggest that ...
... increased trade in the manufacturing sector (imports and exports) led to a net figure of around 156,250 US jobs per year adversely affected during the period 2001 to 2016.2 Of these, about 100,000 were manufacturing jobs and the rest were mainly indirect services jobs. Calculations also suggest that ...
Qualitative Meta-analysis on Three Aspects of the Federal Budget
... dominant legislature, dominant executive, and Congress versus the President. During the early part of American history, 1789-1921, the federal budgeting process was characterized by a dominant legislature. In fact, many agencies submitted their appropriations request directly to Congressional commit ...
... dominant legislature, dominant executive, and Congress versus the President. During the early part of American history, 1789-1921, the federal budgeting process was characterized by a dominant legislature. In fact, many agencies submitted their appropriations request directly to Congressional commit ...
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... (public retirement and disability pensions), unemployment insurance and other “entitlement” programs. For the budget as a whole, BEA specified “pay-as-you-go” (PAYGO) restrictions on taxes and entitlement spending (other than Social Security), requiring that legislation on such items does not increa ...
... (public retirement and disability pensions), unemployment insurance and other “entitlement” programs. For the budget as a whole, BEA specified “pay-as-you-go” (PAYGO) restrictions on taxes and entitlement spending (other than Social Security), requiring that legislation on such items does not increa ...
The TPP and WTO: A Win-win or Zero
... conservative think tank, maintains that the TPP cannot be a viable alternative to the WTO that has institutionalized an extensive set of rules and procedures on international commerce and domestic protectionism. In a similar vein, Bernard Hokeman, a professor at the European University Institute and ...
... conservative think tank, maintains that the TPP cannot be a viable alternative to the WTO that has institutionalized an extensive set of rules and procedures on international commerce and domestic protectionism. In a similar vein, Bernard Hokeman, a professor at the European University Institute and ...
The State of American Federalism, 2003-2004
... unemployment fell to 5.4 percent in August 2004 with nearly 1.7 million jobs added since August 2003. The national homeownership rate in the second quarter of 2004 hit an all-time high of 69.2 percent, and minority homeownership reached its highest point ever at 51 percent. 29 All of this good news ...
... unemployment fell to 5.4 percent in August 2004 with nearly 1.7 million jobs added since August 2003. The national homeownership rate in the second quarter of 2004 hit an all-time high of 69.2 percent, and minority homeownership reached its highest point ever at 51 percent. 29 All of this good news ...
Population Aging, Entitlement Growth, and the Economy
... people age 65 and older, 7 of every 8 tax entitlement dollars go to people under age 65. Both spending and tax entitlements present serious fiscal challenges to the nation. Social Security, Medicare, and Medicaid are projected to grow from 8.7 percent of GDP today to at least 19 percent by 2050, whi ...
... people age 65 and older, 7 of every 8 tax entitlement dollars go to people under age 65. Both spending and tax entitlements present serious fiscal challenges to the nation. Social Security, Medicare, and Medicaid are projected to grow from 8.7 percent of GDP today to at least 19 percent by 2050, whi ...
called for reducing NIH funding to 2008 levels
... private and public sectors. Unfortunately, the tribulation caused by this debt has not been treated, but merely transferred from the private sector to the balance sheets of the federal government and our central bank. When the economy is going through a period of deleveraging, cleaning up balance sh ...
... private and public sectors. Unfortunately, the tribulation caused by this debt has not been treated, but merely transferred from the private sector to the balance sheets of the federal government and our central bank. When the economy is going through a period of deleveraging, cleaning up balance sh ...
DEFICIT PICTURE GRIMMER THAN NEW CBO PROJECTIONS
... due to spending legislation, with more than two-thirds of the growth in spending representing increased costs for defense, homeland security, and the war on terrorism (and only one-twentyfifth of the new spending representing increased costs for domestic discretionary programs outside homeland secur ...
... due to spending legislation, with more than two-thirds of the growth in spending representing increased costs for defense, homeland security, and the war on terrorism (and only one-twentyfifth of the new spending representing increased costs for domestic discretionary programs outside homeland secur ...
The Expected Federal Budget Surplus: How Much
... estimated that the unified budget surplus will total $4.2 trillion over the 2001-10 period, which is more than 40 percent, or $1.3 trillion, greater than the February 2000 current services baseline. Revised economic assumptions account for $984 billion, or more than 75 percent, of this $1.3 trillion ...
... estimated that the unified budget surplus will total $4.2 trillion over the 2001-10 period, which is more than 40 percent, or $1.3 trillion, greater than the February 2000 current services baseline. Revised economic assumptions account for $984 billion, or more than 75 percent, of this $1.3 trillion ...
The 2017 Economic and Budget Outlook
... ■ CBO estimates the budgetary effects of legislative options, including the President’s budget proposal, relative to current law, using the parameters that underlie the baseline. ■ The Budget Committees use the information to develop a budget resolution. CONGRESSI ONAL BUDGET OFFI CE ...
... ■ CBO estimates the budgetary effects of legislative options, including the President’s budget proposal, relative to current law, using the parameters that underlie the baseline. ■ The Budget Committees use the information to develop a budget resolution. CONGRESSI ONAL BUDGET OFFI CE ...