The Evolution of Federal Budget Rules and the Effects on Fiscal Policy: How Informal Norms Have Trumped Formal Constraints

Peter Calcagno and Edward Lopez
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Edward Lopez: Mercury Publication

No 6838, Working Papers from George Mason University, Mercatus Center

Abstract: Today’s fiscal policy challenges are rooted in the way that fiscal policy rules have evolved over the history of the United States. This paper demonstrates that two shifts of informal norms occurred in the decades surrounding the turn of the 20th century.

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Date: 2015-11-12
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Persistent link: https://EconPapers.repec.org/RePEc:ajw:wpaper:06838

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