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How CBO Estimates Automatic Stabilizers: Working Paper 2015-07

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  • Frank Russek
  • Kim Kowalewski

Abstract

Federal receipts and outlays regularly respond to cyclical movements in the economy. When the economy is operating below its potential, personal income and other tax bases are depressed, causing revenues to be lower than if the economy was operating at its potential. At such times, outlays for unemployment insurance benefits and other types of transfer programs are elevated. By contrast, when the economy is operating above its potential, revenues are higher and transfer payments are lower than would be the case if the economy was operating at its potential. Those “automatic

Suggested Citation

  • Frank Russek & Kim Kowalewski, 2015. "How CBO Estimates Automatic Stabilizers: Working Paper 2015-07," Working Papers 51005, Congressional Budget Office.
    • Handle: RePEc:cbo:wpaper:51005
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    File URL: https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/workingpaper/51005-AutomaticStabilizers.pdf
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    Cited by:

    1. Wilson, Matthew, 2023. "State government saving over the business cycle," Regional Science and Urban Economics, Elsevier, vol. 98(C).

    More about this item

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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