How little we know about deficit policy effects

Preston J. Miller and William Roberds

Quarterly Review, 1992, vol. 16, issue Win, 2-11

Abstract: We use a simple model to show why previous empirical studies of budget policy effects are flawed. Due to an identification problem, those studies' findings can be shown to be consistent with policies either mattering or not. We argue that this problem is difficult and not likely to be resolved soon.

Keywords: Fiscal policy; Budget deficits (search for similar items in EconPapers)
Date: 1992
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Citations: View citations in EconPapers (5)

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