The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
IS THE BUDGET DEFICIT “TOO LARGE?”
Abstract
Yes. Specifically, we find that recent spending and taxing policies of the government–if continued–violate the government's intertemporal budget constraint. As a result, government spending must be reduced and/or tax revenues must be increased. These conclusions are based on tests of whether government spending and revenue are cointegrated. In addition to examining real spending and revenue, we also normalize these variables by real GNP and population. For a growing economy, these normalized measures are perhaps more pertinent. We also test and find support for the hypothesis that deficits have become a problem only in recent years.
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Citations
Cites
Co-integration and error correction: representation, estimation and testing
Engle, R. F., & Granger, C. W. J. (1987) · Econometrica · doi:10.2307/1913236 · Cited by 32,007
Cited by
Population aging and fiscal sustainability: Nonlinear evidence from Europe
Cho, D., & Lee, K.-W. (2022) · Journal of International Money and Finance · doi:10.1016/j.jimonfin.2022.102665 · Cited by 40
Metadata
- Authors
- HAKKIO, C. S., & RUSH, M.
- Venue
- Economic Inquiry
- Publisher
- Wiley
- Published
- 1991-07
- Volume
- 29
- Issue
- 3
- Pages
- 429-445
- ISSN
- 0043-3640 (ISSN-L)
- 0095-2583
- 1465-7295
- OpenAlex
- W2052697921
- Cited by
- 737
- References
- 1
- FWCI
- 17.21
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
