Concepts and Measures of Federal Deficits and Debt and Their Impact on Economic Activity

Michael J. Boskin
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Michael J. Boskin: Stanford University and NBER

Chapter 3 in The Economics of Public Debt, 1988, pp 77-115 from Palgrave Macmillan

Abstract: Abstract The relationship between budget deficits or public debt and real economic activity has sparked a tremendous debate. For example, various strands of thought argue that deficits are (1) inflationary, (2) expansionary, (3) alter the composition of output away from investment and net exports, or (4) do not matter. The mechanisms by which these effects occur are also widely debated.

Keywords: Fiscal Policy; Government Spending; Public Debt; Private Consumption; Private Saving (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-349-19459-9_3

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DOI: 10.1007/978-1-349-19459-9_3

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