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Eichengreen, Barry - 2019

We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes...

Persistent link: https://www.econbiz.de/10012893976

A Cross-Country Study of Growth, Saving, and Government

Barro, Robert J. - 2021

Models of endogenous economic growth can generate long-term growth without relying on exogenous changes in technology or population. A general feature of these models is the presence of constant or increasing returns in the factors that can be accumulated. I use some models of this type to study...

Persistent link: https://www.econbiz.de/10013232139

Education, Welfare, and the "New" Federalism : State Budgeting in a Federalist Public Economy

Craig, Steven G.; Inman, Robert P. - 2021

President Reagan's proposal for a "New Federalism" raises a fundamental challenge to our current structure of Federal …-state-local fiscal relations.This research examInes the lIkely consequences of the New Federalism for fiscal allocations by state … and more on tax relief and the numerous other state activities. Second, the New Federalism, as it relaxes the spending …

Persistent link: https://www.econbiz.de/10013234083

On the Ease of Overstating the Fiscal Stimulus in the Us, 2008-9

Aizenman, Joshua - 2010

This note shows that the aggregate fiscal expenditure stimulus in the United States, properly adjusted for the declining fiscal expenditure of the fifty states, was close to zero in 2009. While the Federal government stimulus prevented a net decline in aggregate fiscal expenditure, it did not...

Persistent link: https://www.econbiz.de/10013147362

Fiscal Rules and Discretion Under Limited Enforcement

Halac, Marina - 2019

We study a fiscal policy model in which the government is present-biased towards public spending. Society chooses a fiscal rule to trade off the benefit of committing the government to not overspend against the benefit of granting it flexibility to react to privately observed shocks to the value...

Persistent link: https://www.econbiz.de/10012894435

Fiscal Rules and Discretion Under Self-Enforcement

Halac, Marina - 2017

Persistent link: https://www.econbiz.de/10012946006

Government Form and Public Spending : Theory and Evidence from U.S. Municipalities

Coate, Stephen - 2010

There are two main forms of government in U.S. cities: council-manager and mayor-council. This paper develops a theory of fiscal policy determination under these two forms. The theory predicts that expected public spending will be lower under mayor-council, but that either form of government...

Persistent link: https://www.econbiz.de/10012757587

Federal Budget Rules : The Us Experience

Auerbach, Alan J. - 2010

Like many other developed economies, the United States has imposed fiscal rules in attempting to impose a degree of fiscal discipline on the political process of budget determination. The federal government has operated under a series of budget control regimes that have been complex in nature...

Persistent link: https://www.econbiz.de/10012758451

Public Finance in Models of Economic Growth

Barro, Robert J.; Sala-i-Martin, Xavier - 2021

The recent literature on endogenous economic growth allows for effects of fiscal policy on long-term growth. If the social rate of return on investment exceeds the private return, then tax policies that encourage investment can raise the growth rate and levels of utility. An excess of the social...

Persistent link: https://www.econbiz.de/10013213083

States in Fiscal Distress

Inman, Robert P. - 2010

The 2007-2010 recession has imposed significant fiscal hardships on state and local governments. The result has been state deficits and the need to increase state taxes, cut spending, and withdraw funds from state rainy day accounts. The primary cause of state budget "gaps" has been the rise in...

Persistent link: https://www.econbiz.de/10013142093

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