Can the Debt Growth Be Stopped?

Rules-Based Policy Options for Addressing the Federal Fiscal Crisis

Business & Finance, Economics, Macroeconomics, Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Conditions
Cover of the book Can the Debt Growth Be Stopped? by John D. Merrifield, Barry W. Poulson, Lexington Books
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: John D. Merrifield, Barry W. Poulson ISBN: 9781498518109
Publisher: Lexington Books Publication: March 1, 2016
Imprint: Lexington Books Language: English
Author: John D. Merrifield, Barry W. Poulson
ISBN: 9781498518109
Publisher: Lexington Books
Publication: March 1, 2016
Imprint: Lexington Books
Language: English

This book explores new fiscal rules introduced in OECD countries and the relevance of fiscal rules for the unique fiscal policies and institutions in the United States. The rules in different countries are compared, with a more in depth analysis of two countries with arguably the most successful fiscal rules—Switzerland and Sweden. The study compares the challenge of fiscal consolidation facing the U.S. with that in other OECD countries. The centerpiece of the study is analysis of fiscal rules using a dynamic simulation model. A Swiss style fiscal rule is compared to an alternative fiscal rule proposed by Representative Amash, H.J.Res 24.The authors propose a new fiscal rule designed for the unique fiscal institutions in the U.S. Dynamic scoring is used to measure the impact of different fiscal rules on the federal budget, economic growth, and revenue. The effectiveness of the different fiscal rules is analyzed with respect to several criteria. A major objective of the rules is fiscal stabilization in the long run to bring debt/GDP ratios below tolerance levels. The fiscal rules are also designed for budget stabilization in the medium term, such that deficits in periods of recession are offset by surplus revenue in periods of economic expansion. The concluding section of the study explores the political economy of enacting new fiscal rules in the U.S. The study proposes fundamental changes in budget process required for the proposed fiscal rule to be effective. The study concludes with a discussion of alternative routes to enacting new fiscal rules, and the prospects for new fiscal rules to be enacted in the U.S.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

This book explores new fiscal rules introduced in OECD countries and the relevance of fiscal rules for the unique fiscal policies and institutions in the United States. The rules in different countries are compared, with a more in depth analysis of two countries with arguably the most successful fiscal rules—Switzerland and Sweden. The study compares the challenge of fiscal consolidation facing the U.S. with that in other OECD countries. The centerpiece of the study is analysis of fiscal rules using a dynamic simulation model. A Swiss style fiscal rule is compared to an alternative fiscal rule proposed by Representative Amash, H.J.Res 24.The authors propose a new fiscal rule designed for the unique fiscal institutions in the U.S. Dynamic scoring is used to measure the impact of different fiscal rules on the federal budget, economic growth, and revenue. The effectiveness of the different fiscal rules is analyzed with respect to several criteria. A major objective of the rules is fiscal stabilization in the long run to bring debt/GDP ratios below tolerance levels. The fiscal rules are also designed for budget stabilization in the medium term, such that deficits in periods of recession are offset by surplus revenue in periods of economic expansion. The concluding section of the study explores the political economy of enacting new fiscal rules in the U.S. The study proposes fundamental changes in budget process required for the proposed fiscal rule to be effective. The study concludes with a discussion of alternative routes to enacting new fiscal rules, and the prospects for new fiscal rules to be enacted in the U.S.

More books from Lexington Books

Cover of the book A History of the Water Hyacinth in Africa by John D. Merrifield, Barry W. Poulson
Cover of the book The Religion Clauses of the First Amendment by John D. Merrifield, Barry W. Poulson
Cover of the book Myth, Identity, and Conflict by John D. Merrifield, Barry W. Poulson
Cover of the book Communist Study by John D. Merrifield, Barry W. Poulson
Cover of the book Classical Myth in Alfred Hitchcock's Wrong Man and Grace Kelly Films by John D. Merrifield, Barry W. Poulson
Cover of the book Reconceptualizing Disability in Education by John D. Merrifield, Barry W. Poulson
Cover of the book Counterterrorism and Threat Finance Analysis during Wartime by John D. Merrifield, Barry W. Poulson
Cover of the book The Philosophy of Documentary Film by John D. Merrifield, Barry W. Poulson
Cover of the book Black Male Violence in Perspective by John D. Merrifield, Barry W. Poulson
Cover of the book Souls with Longing by John D. Merrifield, Barry W. Poulson
Cover of the book Issues in EU and US Foreign Policy by John D. Merrifield, Barry W. Poulson
Cover of the book Environmental Justice and Climate Change by John D. Merrifield, Barry W. Poulson
Cover of the book Centrist Rhetoric by John D. Merrifield, Barry W. Poulson
Cover of the book The Insanity Defense the World Over by John D. Merrifield, Barry W. Poulson
Cover of the book Mao and the Sino–Soviet Partnership, 1945–1959 by John D. Merrifield, Barry W. Poulson
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy