Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/66909 
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dc.contributor.authorFlood, Kimberlyen
dc.date.accessioned2012-11-28T14:16:01Z-
dc.date.available2012-11-28T14:16:01Z-
dc.date.issued2008-
dc.identifier.pidoi:10.34989/sdp-2008-8en
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
dc.language.isoengen
dc.publisher|aBank of Canada |cOttawaen
dc.relation.ispartofseries|aBank of Canada Discussion Paper |x2008-8en
dc.subject.jelH0en
dc.subject.jelH2en
dc.subject.jelH3en
dc.subject.ddc330en
dc.subject.keywordFiscal policyen
dc.subject.keywordInternational topicsen
dc.subject.keywordRegional economic developmentsen
dc.subject.stwFinanzpolitiken
dc.subject.stwSteuersenkungen
dc.subject.stwÖffentliche Ausgabenen
dc.subject.stwWeltwirtschaften
dc.subject.stwWirkungsanalyseen
dc.subject.stwUSAen
dc.subject.stwWelten
dc.titleThe global effects of US fiscal policy-
dc.typeWorking Paperen
dc.identifier.ppn571723683en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:bca:bocadp:08-8en

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