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Fiscal Rules and Stabilization
出版International Monetary Fund, 1994-07-01
主題Business & Economics / Economics / MacroeconomicsBusiness & Economics / Public FinanceBusiness & Economics / Budgeting
ISBN14519547009781451954708
URLhttp://books.google.com.hk/books?id=aHYYEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋State budgets in the United States played a significant macroeconomic role in the 1970s and 1980s, and the level of cyclical responsiveness was affected by the severity of statutory and constitutional fiscal restraints. Moving from no fiscal restraints to the most stringent restraints lowered the fiscal offset to income fluctuations by around 40 percent. Simulations indicate that a reduction in aggregate fiscal stabilizers of this size could lead to a significant increase in the variance of aggregate output.