Lloyd-Ellis, Huw; Zhang, Shiqiang; Zhu, Xiaodong - Centre de Recherche sur l'Emploi et les Fluctuations … - 2001
The return to sound fiscal policy after the high budget deficits of the 1980s and early 1990s has been hailed by many as the Clinton administration's most important achievement. In this article, we evaluate post-war, US fiscal policy using an extension of Barro's (1979) tax-smoothing model,...
