The U.S. Intertemporal Budget Constraint: Restoring Equilibrium Through Increased Revenues or Decreased Spending?
AbstractThis paper tests the stability of the U.S. federal intertemporal budget constraint over the postwar period. The implied equilibrium budget path is estimated and used to determine which component of the budget has greater responsibility for the recent intertemporal violations.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 9702002.
Length: 34 pages
Date of creation: 14 Feb 1997
Date of revision: 17 Feb 1997
Note: Type of Document - PostScript; prepared on IBM-PC; to print on HPLaserjet postscript; pages: 34; figures: included in the paper
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Budget Deficit; Intertemporal; Cointegration;
Find related papers by JEL classification:
- H6 - Public Economics - - National Budget, Deficit, and Debt
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
- C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
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