Taxing, Spending, and the Budget Process: The Role of Budget Regimes in the Intertemporal Budget Constraint

Wm. Stewart Mounts, Jr. and Clifford Sowell

Swiss Journal of Economics and Statistics (SJES), 1997, vol. 133, issue III, 421-440

Abstract: Two strains of literature have come out of the research addressing the size and duration of the United States federal government budget deficit. The first, focusing on budget control, deals with causality issues between expenditures and revenues. The second addresses the sustainability of the budget deficit. Here, one finds the rational expectations view of debt management. The empirical work in these two areas, however, offers many conflicting results. This paper addresses this confusion by searching for changes in the budget regime. For various reasons the Congressional Budget and Impoundment Control Act of 1974 is the principal point of focus of this empirical investigation. Indirectly, this paper offers a useful framework in which to understand the impact of changes in internal fiscal policies and budget rules that may be required of the countries participating in European economic union.

Date: 1997
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sjes.ch/papers/1997-III-7.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ses:arsjes:1997-iii-7

Access Statistics for this article

Swiss Journal of Economics and Statistics (SJES) is currently edited by Marius Brülhart

More articles in Swiss Journal of Economics and Statistics (SJES) from Swiss Society of Economics and Statistics (SSES) Contact information at EDIRC.
Bibliographic data for series maintained by Kurt Schmidheiny ().