A Party without a Hangover? On the Effects of U.S. Government Deficits

A Party without a Hangover? On the Effects of U.S. Government Deficits
This paper develops a 2-country New Keynesian overlapping generations model suitable for the joint evaluation of monetary and fiscal policies. We show that a permanent increase in U.S. government deficits raises the world real interest rate and significantly increases U.S. current account deficits, especially in the medium- to long-run. A... READ MORE...

Publication date: August 2007
ISBN 9781451867664
$18.00

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