-appreciated component of this ecosystem, providing $21.5 billion of research funding at universities and non-profits in 2021 or roughly 42 …

economic growth. This paper examines the roles of three other factors: primary budget surpluses, surprise inflation, and pegged … would have followed with primary budget balance and without the distortions in real interest rates caused by surprise …

government. As a first approximation, that environment can be summed up in terms of the individual's budget constraint and levels …

This paper provides alternative measures of federal budget surpluses over 10-year and long-term horizons. Official … baseline budget forecasts are based on a series of statutory requirements that may be at variance with reasonable expectation … long-term imbalances in social security and the rest of the budget implies that, under plausible definitions of current …

cuts in defence spending. These surpluses follow a period (the eighties) of rather exceptional budget deficits. This paper … investigates the origin, size, and expected future patterns of the U.S. budget balance. It discusses how different political forces …

budget constraint is a constraint on the government's instruments that must be satisfied for all admissible values of the … predetermined variables in the government's budget constraint; and anomalous behaviour of the equilibrium' price sequences …