Macroeconomic and Welfare Costs of U S Fiscal Imbalances is popular PDF and ePub book, written by Bertrand Gruss in 2012-01-01, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Macroeconomic and Welfare Costs of U S Fiscal Imbalances can be Read Online from any device for your convenience.
Macroeconomic and Welfare Costs of U S Fiscal Imbalances Book PDF Summary
In this paper we use a general equilibrium model with heterogeneous agents to assess the macroeconomic and welfare consequences in the United States of alternative fiscal policies over the medium-term. We find that failing to address the fiscal imbalances associated with current federal fiscal policies for a prolonged period would result in a significant crowding-out of private investment and a severe drag on growth. Compared to adopting a reform that gradually reduces federal debt to its pre-crisis level, postponing debt stabilization for two decades would entail a permanent output loss of about 17 percent and a welfare loss of almost 7 percent of lifetime consumption. Moreover, the long-run welfare gains from the adjustment would more than compensate the initial losses associated with the consolidation period.
Detail Book of Macroeconomic and Welfare Costs of U S Fiscal Imbalances PDF
- Author : Bertrand Gruss
- Release : 01 January 2012
- Publisher : International Monetary Fund
- ISBN : 9781463951498
- Genre : Business & Economics
- Total Page : 35 pages
- Language : English
- PDF File Size : 7,5 Mb
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