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The Budget Deficit Scare Story and the Great Recession
Baker, Dean - Center for Economic and Policy Research (CEPR) - 2010
The Great Recession has left tens of millions of families facing unemployment, underemployment and the threat of losing their home. However,concerns over the deficit threaten to derail efforts to turn around the economy and spur employment. This report attempts to correct many of the...
Persistent link: https://www.econbiz.de/10008563396
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Taming the Deficit: Saving Our Children from Themselves
Baker, Dean; Rosnick, David - Center for Economic and Policy Research (CEPR) - 2009
Many proponents of conservative fiscal policies talk of the budget deficit as being a matter of intergenerational equality. However, this paper shows the younger generations (and those yet to be born) will contribute more to the deficit than older generations. This analysis uses data from the...
Persistent link: https://www.econbiz.de/10008545824
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The Myth of Expansionary Fiscal Austerity
Baker, Dean - Center for Economic and Policy Research (CEPR) - 2010
Recently governments, economists, and international financial institutions have been debating the merits of further fiscal stimulus to combat the Great Recession versus fiscal austerity or “adjustment” – that is, higher taxes and/or lower government spending – to combat budget deficits....
Persistent link: https://www.econbiz.de/10008671782
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Feel No Pain: Why a Deficit in Times of High Unemployment is Not a Burden
Baker, Dean - Center for Economic and Policy Research (CEPR) - 2010
With the economy suffering from near double-digit unemployment, public debate is dominated by concerns over the budget deficit and national debt. This discussion is unfortunate both because there is no reason for people to be concerned about the deficit at present, and more importantly, because...
Persistent link: https://www.econbiz.de/10008678193
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The Monetary Origins of the Price Revolution' Before the Influx of Spanish-American Treasure: the South German Silver-Copper Trades, Merchant-Banking, and Venetian Commerce, 1470-1...
Munro, John H. - University of Toronto, Department of Economics - 1999
sustained inflation (c.1520 - c.1640) commonly known as the Price Revolution'; and in particular it provides an answer to the … economists and historians had attributed this sustained European inflation to the influx of Spanish-American treasure', chiefly … historians pointed out that European inflation had commenced as early as the 1520s, some three decades before any substantial …
Persistent link: https://www.econbiz.de/10005704807
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Italy and the Euro Area Crisis: Securing Fiscal Sustainability and Financial Stability
Denk, Oliver - Economics Department, Organisation de Coopération et … - 2013
Italy’s policy of fiscal consolidation and growth-friendly structural reforms has substantially improved its economic prospects, but the adverse sentiment that the country has faced in the sovereign bond market over the past years has deep roots. It reflects lingering anxieties over the euro...
Persistent link: https://www.econbiz.de/10011276838
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The political economy of public investment and public finance: challenges for social democratic policies
Moudud, Jamee K.; Martinez-Hernandez, Francisco - In: Review of Keynesian Economics 2 (2014) 3, pp. 333-364
The ‘comprehensive socialization of investment’ was a key policy goal of The General Theory. And yet, empirically, we have seen a decline in the public investment share in most OECD countries since the economic crisis of the 1970s. In this paper we study several issues concerning...
Persistent link: https://www.econbiz.de/10011133438
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High inflation and adjustment in Brazil during the return to democracy - 1985-1994
Marongiu, Federico - Volkswirtschaftliche Fakultät, … - 2007
As it also happened in many Latin American countries during the 60s and 70s, inflation became one of the main economic … reforms(1990-1993). Inflation was perceived as a huge problem by Brazilian economic authorities from 1979 on. Since then …
Persistent link: https://www.econbiz.de/10008533695
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What is Happening with the Government Expenditure of Developing Countries - A Panel Data Study
Shonchoy, Abu - Verein für Socialpolitik, Ausschuss für … - 2010
The paper focuses on the recent pattern of government expenditure for developing countries and estimates the determinants which may have influenced government expenditure. Using a panel data set for 111 developing countries from 1984 to 2004, this study finds evidence that political and...
Persistent link: https://www.econbiz.de/10008564837
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Short-Term Pain for Long-Term Gain: The Impact of Structural Reform on Fiscal of Outcomes in EMU
Noord, Paul van den; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2006
The 2005 reform of the EU Stability and Growth Pact has provided leeway for governments to let their fiscal deficit temporarily breach the 3% rule to finance the immediate budgetary cost of structural reform, such as compensation schemes to offset redistributive effects. Against this backdrop,...
Persistent link: https://www.econbiz.de/10005045584