Download or read book Effects of Federal Budget Deficits on Interest Rates and the Composition of Domestic Output written by James R. Barth and published by . This book was released on 1989 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economic Consequences of Government Deficits written by L.H. Meyer and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: On October 29 and 30, 1982, the Center for the Study of American Business and the Institute for Banking and Financial Markets at Washington "The Economic Consequences of University cosponsored a conference on Government Deficits. " This was the sixth annual Economic Policy Con ference sponsored by the Center, and the first it has cosponsored with the Institute. This book contains the papers and comments delivered at that conference. Recent and prospective large federal deficits have prompted a thorough reconsideration of the political sources and economic consequences of government deficits. The papers in Part I focus on the implications of deficits for monetary growth and inflation, and the papers in Part II consider the effect of deficits on interest rates and capital formation. The papers in Part III deal with the political sources and remedies for the explosive growth in government spending and increased reliance on deficits. The papers in Part I by Alan S. Blinder, Professor of Economics at Princeton University, and Preston J. Miller, Assistant Vice President and Research Advisor at the Federal Reserve Bank of Minneapolis, discuss the relation between monetary growth and deficits and present evidence on the of deficits on inflation and output. A deficit is said to be monetized effects vii viii THE ECONOMIC CONSEQUENCES OF GOVERNMENT DEFICITS when the Federal Reserve purchases bonds to aid the Treasury in financing the deficit.
Download or read book Federal Debt written by United States. General Accounting Office and published by . This book was released on 1996 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Articles, reports, and books on the federal debt and its effects tend to be complex and technical. As a result, the public frequently misunderstands these issues. For example, people often forget that even if Congress and the President agree to balance the annual budget within the next several years, the federal debt will continue to grow until balance is actually achieved. Although declining deficits and, ultimately, balanced budgets could reduce the debt as a share of the economy, the debt will not decline unless there is a budget surplus. This document responds to frequently asked questions about the federal debt, deficits, and interest rates. GAO organizes these questions into three sections: (1) trends in the federal debt, deficits, and interest; (2) sales and ownership of federal debt; and (3) effects of the federal debt. For readers who are interested in more detailed information on these topics, GAO includes a short bibliography.
Download or read book New Evidence on the Interest Rate Effects of Budget Deficits and Debt written by Thomas Laubach and published by . This book was released on 2003 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Federal Deficits on Credit Conditions and on the Economy written by Walter E. Fauntroy and published by . This book was released on 1982 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Deficits on Interest Rates Savings Investment and the Dollar written by United States. Congress. Joint Economic Committee and published by . This book was released on 1984 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Long run Effects of Federal Budget Deficits on National Saving and Private Domestic Investment written by Jonathan Huntley and published by . This book was released on 2014 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Budget Office’s analyses of the long-term effects of changes in federal fiscal policy include the effects of changes in federal budget deficits on aggregate output and income. Those effects depend on the responses of private saving and net inflows of foreign capital to changes in deficits. This paper reviews empirical estimates of those two effects and explains how changes in private saving and net inflows of foreign capital can offset some of the effects of changes in deficits on national saving and private domestic investment. In its analyses, CBO uses a range of estimates to reflect the high degree of uncertainty surrounding the magnitude of those offsets. On the basis of results published in the empirical literature, CBO concludes that for each dollar’s increase in the federal deficit, the effect on investment ranges from a decrease of 15 cents to a decrease of 50 cents, with a central estimate of a decrease of 33 cents.
Download or read book The Great Fiscal Experiment written by Rudolph Gerhard Penner and published by The Urban Insitute. This book was released on 1991 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book focuses on the macro fiscal policy changes and asks what have been learned from this turbulent decade about the effects of fiscal policy on the economy.
Download or read book A Nation in Debt written by Richard H. Fink and published by . This book was released on 1987 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Economics of the Federal Budget Deficit written by and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Budget Office (CBO) estimates that the federal budget deficit for FY2006 was $247.6 billion, a decline from the $318.3 billion deficit recorded in FY2005. The CBO baseline deficit projection for FY2007 is $172 billion. Over fairly short periods of time, say three or four years, fiscal policy can affect the rate of economic growth by adding to, or subtracting from, aggregate demand. For a time, the effect on the economy may even be larger than the initial change in the budget. These effects, however, tend eventually to diminish because of either higher interest rates or rising prices. Estimates of the multiplier effect on the economy of a change in fiscal policy vary, but most of them suggest that it reaches a peak somewhere between one and one-and-a-half times size of the change in the budget. In most economic models, that peak effect is realized within one or two years of the initial change in policy. One measure economists use to assess fiscal policy is the structural, or standardized-employment, budget. This measure estimates, at a given time, what outlays, receipts, and the surplus or deficit would be if the economy were at full employment. Although the actual budget was in surplus beginning in 1998, the standardized measure first registered a balanced budget in 1999. Between 1992 and 2000, the actual budget surplus increased from -4.7% (a deficit of 4.7%) to 2.4% of gross domestic product (GDP), a shift of 7.1 percentage points. During the same period, the standardized measure rose from -2.9% to 1.1% of GDP. That suggests that a little more than half of the shift was the result of changes in policy, and a little less than half was attributable to the economic expansion. Between 2000 and 2006, the actual surplus fell from 2.4% to -1.9% of GDP, whereas the standardized measure fell from 1.1% to -2.2% of GDP.
Download or read book NBER Macroeconomics Annual 2004 written by Mark Gertler and published by Mit Press. This book was released on 2005 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: The NBER Macroeconomics Annual presents pioneering work in macroeconomics by leading academic researchers addressed to a broad audience of public policymakers as well as to the academic community. Each paper is followed by comments and discussion to give a more complete context for the views expressed. The 2004 edition features a range of papers aimed at providing coherent and informative answers to such important questions as the effect of federal government debt on interest rates; the stochastic dimension of the American economy; the role of technology as a source of economic fluctuations; and the interaction of capital flows, fiscal policy, and monetary policies in developing countries, emerging markets, and OECD countries.
Download or read book The Economics of the Federal Budget Deficit written by and published by . This book was released on 2007 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Congressional Budget Office (CBO) estimates that the federal budget deficit for FY2006 was $247.6 billion, a decline from the $318.3 billion deficit recorded in FY2005. The CBO baseline deficit projection for FY2007 is $172 billion. Over fairly short periods of time, say three or four years, fiscal policy can affect the rate of economic growth by adding to, or subtracting from, aggregate demand. For a time, the effect on the economy may even be larger than the initial change in the budget. These effects, however, tend eventually to diminish because of either higher interest rates or rising prices. Estimates of the multiplier effect on the economy of a change in fiscal policy vary, but most of them suggest that it reaches a peak somewhere between one and one-and-a-half times size of the change in the budget. In most economic models, that peak effect is realized within one or two years of the initial change in policy. One measure economists use to assess fiscal policy is the structural, or standardized-employment, budget. This measure estimates, at a given time, what outlays, receipts, and the surplus or deficit would be if the economy were at full employment. Although the actual budget was in surplus beginning in 1998, the standardized measure first registered a balanced budget in 1999. Between 1992 and 2000, the actual budget surplus increased from -4.7% (a deficit of 4.7%) to 2.4% of gross domestic product (GDP), a shift of 7.1 percentage points. During the same period, the standardized measure rose from -2.9% to 1.1% of GDP. That suggests that a little more than half of the shift was the result of changes in policy, and a little less than half was attributable to the economic expansion. Between 2000 and 2006, the actual surplus fell from 2.4% to -1.9% of GDP, whereas the standardized measure fell from 1.1% to -2.2% of GDP.
Download or read book Expansionary Austerity New International Evidence written by Mr.Daniel Leigh and published by International Monetary Fund. This book was released on 2011-07-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budget Speeches and IMFdocuments, to identify changes in fiscal policy motivated by a desire to reduce the budget deficit and not by responding to prospective economic conditions. Using this new dataset, our estimates suggest fiscal consolidation has contractionary effects on private domestic demand and GDP. By contrast, estimates based on conventional measures of the fiscal policy stance used in the literature support the expansionary fiscal contractions hypothesis but appear to be biased toward overstating expansionary effects.
Download or read book How Real is the Federal Deficit written by Robert Eisner and published by . This book was released on 1986 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Showing that 1970s inflation made budget surpluses look like deficits and that the recession was a combination of tight money and restrictive federal spending, the author argues that the federal deficit has long been miscalculated and examines the resulting implications.
Download or read book Budget options written by United States. Congressional Budget Office and published by . This book was released on 1977 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
