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dc.contributor.authorFlood, Kimberlyen_US
dc.date.accessioned2012-11-28T14:16:01Z-
dc.date.available2012-11-28T14:16:01Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/66909-
dc.description.abstractThe author examines the global impact of U.S. fiscal policy using the Bank of Canadas' Global Economy Model (Lalonde and Muir 2007). In particular, she examines the global macroeconomic implications of the expiration of major tax cuts in the United States and of expected increases in U.S. entitlement program expenditures. The results of her analysis suggest that the expiration of previously enacted tax cuts in the United States will impose short-run costs on the U.S. economy. However, the rest of the world will benefit from an associated decline in the world real interest rate and from a redistribution of wealth linked to a partial reversal of global current account imbalances as U.S. government debt declines. The authors' analysis of the expected increase in U.S. entitlement program expenditures, financed through debt, suggests that entitlement program expenditures will crowd out economic growth in the United States and the rest of the world.en_US
dc.language.isoengen_US
dc.publisherBank of Canada Ottawaen_US
dc.relation.ispartofseriesBank of Canada Discussion Paper 2008-8en_US
dc.subject.jelH0en_US
dc.subject.jelH2en_US
dc.subject.jelH3en_US
dc.subject.ddc330en_US
dc.subject.keywordFiscal policyen_US
dc.subject.keywordInternational topicsen_US
dc.subject.keywordRegional economic developmentsen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwSteuersenkungen_US
dc.subject.stwÖffentliche Ausgabenen_US
dc.subject.stwWeltwirtschaften_US
dc.subject.stwWirkungsanalyseen_US
dc.subject.stwUSAen_US
dc.subject.stwWelten_US
dc.titleThe global effects of US fiscal policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn571723683en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Bank of Canada Discussion Papers

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