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The U.S. Fiscal Problem : Where We are, How We Got Here and Where We're Going

Auerbach, Alan J. - 2011

This paper deals with several issues regarding the causes and implications of recent and projected U.S. federal budget deficits. It considers why deficits have remained so large in spite of deficit reduction efforts, evaluates the impact of the recent policies of the Clinton administration, and...

Persistent link: https://www.econbiz.de/10013125133

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

A History of U.S. Debt Limits

Hall, George J. - 2015

Congress first imposed an aggregate debt limit in 1939 when it delegated decisions about designing US debt instruments to the Treasury. Before World War I, Congress designed each bond and specified a maximum amount of each bond that the Treasury could issue. It usually specified purposes for...

Persistent link: https://www.econbiz.de/10013010287

Government Spending Multipliers in Good Times and in Bad : Evidence from U.S. Historical Data

Ramey, Valerie A. - 2014

This paper investigates whether U.S. government spending multipliers differ according to two potentially important features of the economy: (1) the amount of slack and (2) whether interest rates are near the zero lower bound. We shed light on these questions by analyzing new quarterly historical...

Persistent link: https://www.econbiz.de/10013043271

Dynamics of Fiscal Financing in the United States

Leeper, Eric M.; Plante, Michael; Traum, Nora - 2021

Dynamic stochastic general equilibrium models that include policy rules for government spending, lump-sum transfers … debt. Third, based on estimated policy rules, transfers, capital tax rates, and government spending have historically … condition linking debt to expected discounted surpluses---transfers, spending, tax revenues, and discount factors …

Persistent link: https://www.econbiz.de/10013225027

Cúrdia, Vasco - 2010

The dynamic stochastic general equilibrium (DSGE) models that are used to study business cycles typically assume that exogenous disturbances are independent autoregressions of order one. This paper relaxes this tight and arbitrary restriction, by allowing for disturbances that have a rich...

Persistent link: https://www.econbiz.de/10013147368

Innovation in the U.S. Government

Bruce, Joshua R.; de Figueiredo, John M. - 2022

This paper examines the U.S. government’s intramural research and development efforts over a 40-year period, drawing together multiple human capital, government spending, and patent datasets. The U.S. Federal Government innovates along four dimensions: technological, organizational,...

Persistent link: https://www.econbiz.de/10013293708

The Long Shadow of a Fiscal Expansion

Bai, Chong-En - 2016

In 2009 and 2010, China undertook a 4 trillion Yuan fiscal stimulus, roughly equivalent to 12 percent of annual GDP. The "fiscal" stimulus was largely financed by off-balance sheet companies (local financing vehicles) that borrowed and spent on behalf of local governments. The off-balance sheet...

Persistent link: https://www.econbiz.de/10012979772

Macroeconomic Frameworks

Auerbach, Alan J. - 2019

We link detailed data on defense spending, wages, hours, employment, establishments, and GDP across U.S. cities to study the effects of fiscal stimulus. Our small-open-economy empirical setting permits us to estimate key macroeconomic outcomes and elasticities, including the responses of the...

Persistent link: https://www.econbiz.de/10012861210

The Effect of Patronage Politics on City Government in American Cities, 1900-1910

Menes, Rebecca - 2021

In this paper I explore the effect of patronage or machine' politics on government performance in American cities during the Progressive era. I use game theoretic models and an empirical analysis of spending and public goods provision during the first decade of the twentieth century in a cross...

Persistent link: https://www.econbiz.de/10013218408