Dette et déficit gouvernementaux: mesure et effets

Robert Eisner and Paul J. Pieper

Annals of Economics and Statistics, 1986, issue 3, 27-52

Abstract: Budget deficits in the United States and six OECD nations are adjusted for inflation so as to correspond to changes in real net debt. Adjusted high-employment or cyclically-corrected deficits are then found to be positively related, and more clearly and sharply than unadjusted deficits, to subsequent increases in real output and, in the US, to decreases in unemployment. The adjusted US deficit contributes significantly to OECD growth in GDP.

Date: 1986
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