e-journal

What It Takes To Solve The U.U Government Deficit Problem

---

This paper uses a structural multi-country macroeconometric model to estimate the size of the decrease in transfer payments (or tax expenditures) needed to stabilize the U.S. government debt/gross domestic product (GDP) ratio. It takes into account endogenous effects of changes in fiscal policy on the economy and in turn the effect of changes in the economy on the deficit. A base run is first obtained for the
2013:1-2022:4 period in which there are no major changes in U.S. fiscal policy. This results in an ever increasing debt/GDP ratio. Then transfer payments are decreased by an amount sufficient to stabilize the long-run debt/GDP ratio. The results show that transfer payments need to be decreased by 2% of GDP from the base run, which over the 10 years is $3.2 trillion in 2005 dollars and $4.8 trillion in current dollars. The real output loss is 1.1% of baseline GDP. Monetary policy helps keep the loss down,
but it is not powerful enough in the model to eliminate all of the loss. The estimates are robust to a base run with less infiation and to one with less expansion.

---

Ketersediaan

Tidak ada salinan data

Informasi Detail

Judul Seri

Contemporary Economic Policy

No. Panggil

-

Penerbit

: Western Economic Association International., 2012

Deskripsi Fisik

Contemporary Economic Policy Vol. 30, No. 4, 618-628

Bahasa

English

ISBN/ISSN

14657287

Klasifikasi

-

Tipe Isi

-

Tipe Media

-

Tipe Pembawa

-

Edisi

-

Subjek

ADMINISTRASI

Info Detail Spesifik

-

Pernyataan Tanggungjawab

Asmawati

Versi lain/terkait

Lampiran Berkas

Komentar

---

Anda harus masuk sebelum memberikan komentar