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In 1992, President Bush proposed legislation intended to speed up the
recovery from the 1990-91 recession. Congress rejected this proposal for
countercyclical fiscal policy stimulus. In early 1993 P...
The Lack of an Empirical Rationale for a Revival of Discretionary Fiscal Policy
Empirical Rationale Discretionary Fiscal Policy
2015/8/3
A decade ago in a paper, “Reassessing
Discretionary Fiscal Policy,” published in the
Journal of Economic Perspectives, I concluded
that “in the current context of the US economy, it
seems best to ...
《Fiscal Policy after the Financial Crisis》（图）
Fiscal Policy after the Financial Crisis Alberto Alesina Francesco Giavazzi
2013/11/27
The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spendin...
Fiscal Policy in Debt Constrained Economies
Fiscal Policy Debt Constrained Economies optimal fiscal policy
2014/3/12
We study optimal fiscal policy in a small open economy (SOE) with sovereign and private default risk and limited commitment to tax plans. The SOE's government uses linear taxation to fund exogenous ex...
Fiscal Policy over the Real Business Cycle: A Positive Theory
fi scal policy business cycle budget
2014/3/12
This paper explores the implications of the political economy model of Battaglini and Coate (2008)
for the behavior of fiscal policy over the business cycle. The model predicts that fisca...
Implementability of the Non-Ricardian Optimal Fiscal Policy
Fiscal Theory of the Price level Ramsey Equilibrium Nash Equilibrium
2009/5/6
Dealing with out-of-equilibrium behaviors of economic agents is necessary to fill in the gaps in the controversy surrounding the admissibility of the fiscal theory of the price level (FTPL). Incorpor...
We describe a theory of the collective choice of fiscal policy in dynamic economies that are subject to
aggregate shocks. The theory incorporates realistically complex policy spaces, rational f...