Implementing the New Fiscal Policy Activism
To many observers, the current recession provides compelling circumstances for renewed fiscal policy activism. But the strong support for fiscal policy intervention reflects a renewed belief in policy activism that had already appeared before the present crisis. However, the recent debate about possible fiscal policy interventions suggests that we are still relying on the approaches to discretionary policy used in past periods of policy activism. It is not surprising that there have been few advances in discretionary policy design, given the lack of favor such policy suffered over many years. But if we are going to practice fiscal discretionary policy on a large scale, then more attention to policy design is sorely needed.
|Date of creation:||Feb 2009|
|Date of revision:|
|Publication status:||published as Alan J. Auerbach, 2009. "Implementing the New Fiscal Policy Activism," American Economic Review, American Economic Association, vol. 99(2), pages 543-49, May.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- Rosanne Altshuler & Alan J. Auerbach & Michael Cooper & Matthew Knittel, 2009.
"Understanding U.S. Corporate Tax Losses,"
in: Tax Policy and the Economy, Volume 23, pages 73-122
National Bureau of Economic Research, Inc.
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NBER Working Papers
7662, National Bureau of Economic Research, Inc.
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- Alan J. Auerbach, 2003.
"Fiscal Policy, Past and Present,"
Brookings Papers on Economic Activity,
Economic Studies Program, The Brookings Institution, vol. 34(1), pages 75-138.
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