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their home. However,concerns over the deficit threaten to derail efforts to turn around the economy and spur employment …. This report attempts to correct many of the misperceptions about the deficit that have brought the issue to the center of … downturn, the tactics of the deficit hawks distract the public and policy makers from the policies necessary to bring the …
Persistent link: https://www.econbiz.de/10008563396
deficit and national debt. This discussion is unfortunate both because there is no reason for people to be concerned about the … deficit at present, and more importantly, because it discourages action on the unemployment crisis that is devastating the …
Persistent link: https://www.econbiz.de/10008678193
Many proponents of conservative fiscal policies talk of the budget deficit as being a matter of intergenerational … equality. However, this paper shows the younger generations (and those yet to be born) will contribute more to the deficit than … the driving force behind the deficit is our broken health care system and that this should be the focus of the debate. …
Persistent link: https://www.econbiz.de/10008545824
Recently governments, economists, and international financial institutions have been debating the merits of further fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” – that is, higher taxes and/or lower government spending – to combat budget deficits....
Persistent link: https://www.econbiz.de/10008671782
The paper analyses the medium-term objectives (MTOs) recently adopted by the EU Member States as a reference for the multilateral budgetary surveillance, assessing the ability of the new MTOs to promote long-term fiscal sustainability. The paper calibrates the (yet undisclosed) algorithm for...
Persistent link: https://www.econbiz.de/10013136690
The aim of this article is to estimate the mutual interaction of monetary and fiscal policy in the Visegrad Group countries, i.e. in the Czech Republic, Slovakia, Poland, and Hungary. The relations between monetary and fiscal policy - its coordination, cooperation or mutual antagonism - are...
Persistent link: https://www.econbiz.de/10011228242
subject to an upper limit on the budget deficit. It is shown that complementarity or substitutability between the policies and … economy. If the government attempts to stimulate output beyond its natural level, a "deficit bias" emerges under non …-cooperation; under cooperation, the equilibrium is characterised by both a "deficit bias" and an "inflation bias". However, if the …
Persistent link: https://www.econbiz.de/10013104469
Over the last few decades, real interest rates have trended downward in many countries. The most common explanation is that this reflects depressed demand due to demographic, technological and other real factors such as income inequality. In this paper we explore the claim that these trends may...
Persistent link: https://www.econbiz.de/10012619634
% deficit limit if this facilitates the implementation of initially expensive reforms. But the implementation of this principle … de 3 % du déficit public si cela facilite la mise en oeuvre de réformes initialement coûteuses. L'application de ce …
Persistent link: https://www.econbiz.de/10005046157
On 16-17 September 2010, the Banque de France’s Directorate General Economics and International Relations and the Bureau d’économie théorique et appliquée (BETA) of Strasbourg University jointly hosted a conference on the topic “New challenges for public debt in advanced economies”...
Persistent link: https://www.econbiz.de/10009150937