Debt and nonlinear fiscal policy: evidence from the states

Evidence from a half century of experience by states identifies nonlinearities in the effects of debt and fiscal policy on growth. Effects are Keynesian for low to moderate levels of debt and stimulus but anti Keynesian for sufficiently high levels of debt or stimulus. Results are broadly consistent with models by Barro (1999), Judd (1987), and others.

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Year of publication:	2012-06-06
Authors:	Gray, Jo Anna ; Stone, Joe A.
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	debt \| fiscal policy \| nonlinear \| growth \| Keynes

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; B22 - Macroeconomics ; A10 - General Economics. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011110985