What Do Budget Deficits Do? /
Ball, Laurence.
What Do Budget Deficits Do? / Laurence Ball, N. Gregory Mankiw. - Cambridge, Mass. National Bureau of Economic Research 1995. - 1 online resource: illustrations (black and white); - NBER working paper series no. w5263 . - Working Paper Series (National Bureau of Economic Research) no. w5263. .
September 1995.
This paper discusses the effects of budget deficits on the economy in four steps. First, it reviews standard theory about how budget deficits influence saving, investment, the trade balance, interest rates, exchange rates, and long-term growth. Second, it offers a rough estimate of the magnitude of some of the effects. Third, it discusses how budget deficits affect economic welfare. Finally, it considers the possibility that continuing budget deficits in a country could lead to a 'hard landing' in which the demand for the country's assets suddenly collapses.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
What Do Budget Deficits Do? / Laurence Ball, N. Gregory Mankiw. - Cambridge, Mass. National Bureau of Economic Research 1995. - 1 online resource: illustrations (black and white); - NBER working paper series no. w5263 . - Working Paper Series (National Bureau of Economic Research) no. w5263. .
September 1995.
This paper discusses the effects of budget deficits on the economy in four steps. First, it reviews standard theory about how budget deficits influence saving, investment, the trade balance, interest rates, exchange rates, and long-term growth. Second, it offers a rough estimate of the magnitude of some of the effects. Third, it discusses how budget deficits affect economic welfare. Finally, it considers the possibility that continuing budget deficits in a country could lead to a 'hard landing' in which the demand for the country's assets suddenly collapses.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.