because of deficiency of the consumptions of the older generation. This budget deficit is not debt and does not need to be … full-employment under economic growth driven by technological progress. Since the budget deficit to maintain full …-employment must be continuous, it should be financed by seigniorage not by public debt. Budget deficit is necessary under growth …

recession, a budget deficit in excess of that level is required, and that deficit need not be covered by a future budget surplus … when the budget deficit falls below that level, and that involuntary unemployment occurs. In order to recover from a … positive evaluation of MMT. The basic idea is that a certain level of continuous budget deficit is necessary to maintain full …

deficit in excess of that level is required, and that deficit need not becovered by a future budget surplus. The same can be … the economy is growing, that inflation occurswhen the budget deficit exceeds that level, that a recession occurs when the …Recently, a school of thought called Modern Monetary Theory (MMT) has been attractingattention, but it has not received …

deficit equals the increase in people's savings, and the accumulated budget deficit equals people's savings. The budget … determines income, which determines savings. Deficits create savings, not savings finance deficits. Reducing the budget deficit … Theory or Modern Monetary Theory) approach, however, this is not true. It is often pointed out that MMT lacks the …

positive (or investment of private firms is not large), we need budget deficit including interest payments on government bonds … examine the budget deficit in a growing economy, and will show mainly the following results. 1) If the initial savings is …) If the interest rate on the government bonds is larger than the growth rate, the budget surplus excluding interest …

cannot to hold a balanced budget because of some other economic factors. The main problem when a nation faces a deficit … budget and it has vital role in economic development. The studies show that, it is good to have balanced budget but always we … budget is war and economics recession. There are different views about budget balance some economists say it is good but …

The analysis of government deficits and public debt points to a fundamental error in contemporary economic discussions …. It is not possible to assess the stance of fiscal policy from estimates of the public sector deficit. John Maynard Keynes … will lead to growth in economic activity and employment. In an economy with spare capacity and idle resources, high …

in excess of the supply of the goods and services available. Whether we have inflation in New Zealand or not, therefore … Economic context—identifying the issues 17 Introduction 17 Inflation 17 Responding to inflation—role of monetary and fiscal … economic and social objectives, and that it requires the Reserve Bank, in pursuing its price stability objective, to operate …

cut capital expenditures, rather than decreasing current expenditures or raising taxes. The estimated multiplier is not …Fiscal consolidation often entails balanced budget requirements (BBRs) for local governments. However, little is known … about the effects of BBRs on economic activity, as most quasi-experimental estimates of local fiscal multipliers stem from …

5-5. Budget Comparison: January 2001 and January 2009 .............. 143 5-6. Effect of the Recovery Act on the Deficit … economic growth that is sustained and broadly shared. It’s not enough to move the economy from recession to recovery. We must … jobs are threatened by State and local budget shortfalls. To do otherwise would not only worsen unemployment and hamper our …