In this paper we tried to consider the fiscal reconstruction processes in the United States and Japan mainly from the viewpoint of the "logic of taxpayers", which brings the pressures to control the costs of welfare state for the aged. But today's pressures toward "small government" have one...

This paper studies the international and intertemporal implications of increased government expenditure. First, it reviews the conventional proposition that increased government expenditure raises interest rates, crowds out investment, and reduces growth. Then, it shows that this proposition...