The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures
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Publication:2246743
Recommendations
- Balanced-budget rules and macroeconomic (in)stability
- Aggregate instability under balanced-budget consumption taxes: a re-examination
- Public infrastructure investment, output dynamics, and balanced budget fiscal rules
- Macroeconomic Stabilization Policies in Intrinsically Unstable Macroeconomies
- Fiscal stabilization vs. passivity
- Budgetary-neutral fiscal policy rules and external adjustment
- Fiscal rules and discretion under persistent shocks
- Fiscal and monetary policy rules in an unstable economy
- On the Dual Stability of a Von Neumann Facet and the Inefficacy of Temporary Fiscal Policy
Cites work
- Capacity utilization under increasing returns to scale
- Fiscal Policy in an Expectations-Driven Liquidity Trap
- Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models
- Global indeterminacy in an endogeneous-growth model with public capital
- Indeterminacy and increasing returns
- Indeterminacy and stabilization policy
- INDETERMINACY, BIFURCATIONS, AND UNEMPLOYMENT FLUCTUATIONS
- Macroeconomic dynamics near the ZLB: a tale of two countries
- Micro and macro elasticities in a life cycle model with taxes
- Multiple equilibria and progressive taxation of labor income
- Real business cycles and the animal spirits hypothesis
- Self-fulfilling deflations
- Sovereign default: the role of expectations
- Sunspots and non-linear dynamics. Essays in honor of Jean-Michel Grandmont
- The perils of Taylor rules
- The role of automatic stabilizers in the U.S. business cycle
- Time series analysis by state space methods.
Cited in
(21)- Fiscal rules and extrinsic uncertainty
- Econometric implications of the government budget constraint
- Fiscal stabilization and the credibility of the U.S. budget sequestration spending austerity
- Balanced-budget consumption taxes and aggregate stability in a small open economy
- Budgetary-neutral fiscal policy rules and external adjustment
- Indeterminacy and period length under balanced budget rules
- Globally-Stabilizing Fiscal Policy Rules
- Aggregate instability under balanced-budget consumption taxes: a re-examination
- Destabilizing balanced-budget consumption taxes in multi-sector economies
- Fiscal policy, chartal money, mark-up dynamics and unemployment insurance in a model of growth and distribution
- Automatic stabilisers and budget rules
- The implementation of stabilization policy
- Sectoral composition of government spending, distortionary income taxation, and macroeconomic (in)stability
- The stabilizing role of fiscal policy rules under the Bulgarian currency board arrangement
- Balanced‐budget rules: Local indeterminacy and bifurcations
- Time‐varying consumption tax, productive government spending, and aggregate instability
- Taylor and fiscal rules: when do they stabilize the economy?
- The perils of fiscal feedback rules
- Balanced-budget rules and macroeconomic (in)stability
- Fiscal policy, debt constraint and expectations-driven volatility
- Balanced-budget rules: chaos and deterministic sunspots
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