Showing 1 - 10 of 12
Persistent link: https://www.econbiz.de/10005717232
Eliminating the federal budget deficit, even assuming a correspondingly higher national rate, is likely to yield only a modest reduction in the U.S. international trade deficit. Balancing the federal budget will help improve the trade balance through the effects of lower levels of aggregate...
Persistent link: https://www.econbiz.de/10005512187
We document aggregate income growth uncertainty at the state level, and the extent to which this uncertainty is reduced by risksharing through financial markets and federal fiscal policy. A methodology is adopted that is closely connected to the empirical growth literature. It does not rely on...
Persistent link: https://www.econbiz.de/10005512242
Persistent link: https://www.econbiz.de/10005512244
This article demonstrates that a fiscal expansion can induce both a short- and long-run depreciation of a currency and, by parallel arguments, fiscal contraction can induce short- and long-run appreciation. This possibility hinges on a country being a debtor with at least some of its debt...
Persistent link: https://www.econbiz.de/10005387242
Persistent link: https://www.econbiz.de/10005387321
In this paper, we examine the likely consequences for the sustainability of fiscal policy of pursuing goals that rely on restrictive ceilings on deficits and debt. We provide a formal theoretical framework for analyzing the sustainability of fiscal policy based on the government intertemporal...
Persistent link: https://www.econbiz.de/10005387391
Persistent link: https://www.econbiz.de/10005387399
Persistent link: https://www.econbiz.de/10005717218
This paper analyzes the empirical relationship between corporate restructuring and productivity. We estimate … allocation and productivity. We find, at most, restructuring may have spurred the substitution of capital for labor in some … industries, helping to set the stage for increased labor productivity. However, there is little evidence that restructurings …
Persistent link: https://www.econbiz.de/10005717231