How CBO Estimates Automatic Stabilizers: Working Paper 2015-07

Frank Russek and Kim Kowalewski

No 51005, Working Papers from Congressional Budget Office

Abstract: Federal receipts and outlays regularly respond to cyclical movements in the economy. When the economy is operating below its potential, personal income and other tax bases are depressed, causing revenues to be lower than if the economy was operating at its potential. At such times, outlays for unemployment insurance benefits and other types of transfer programs are elevated. By contrast, when the economy is operating above its potential, revenues are higher and transfer payments are lower than would be the case if the economy was operating at its potential. Those “automatic

JEL-codes: E62 (search for similar items in EconPapers)
Date: 2015-11-19
New Economics Papers: this item is included in nep-mac and nep-pbe
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