Cover Image
Read Now

Restraining Yourself Fiscal Rules and Stabilization

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 fi...

Full description

Bibliographic Details
Main Author: Eichengreen, Barry
Other Authors: Bayoumi, Tamim
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1994
Series:IMF Working Papers
Subjects:
Fiscal Stance
Treasury Policy
Comparative Or Joint Analysis Of Fiscal And Monetary Policy
Fiscal Stabilization
Budget Systems
Stabilization
Public Finance & Taxation
Fiscal Policy
Budget Planning And Preparation
Budgeting
National Government Expenditures And Related Policies: General
Expenditure
Budget
Expenditures, Public
Macroeconomics
Public Financial Management (pfm)
Budgeting & Financial Management
National Budget
Public Finance
State And Local Borrowing
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary: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
Physical Description:24 pages
ISBN:9781451954708

Similar Items