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The Economic Consequences of Government Deficits

  • Book
  • © 1983

Overview

Editors:
  1. Laurence H. Meyer

    1. Washington University, USA

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Part of the book series: Economic Policy Conference Series (EPCS, volume 2)

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-xiii
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  2. The Impact of Deficits on Monetary Growth and Inflation

    1. Front Matter

      Pages 1-1
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    2. Examining the Proposition that Federal Budget Deficits Matter

      • Preston J. Miller
      Pages 3-24

    3. Discussion

      • Jerome L. Stein
      Pages 25-37

    4. On the Monetization of Deficits

      • Alan S. Blinder
      Pages 39-73

    5. Discussion

      • Scott E. Hein
      Pages 75-85

  3. The Impact of Deficits on Interest Rates and Capital Formation

    1. Front Matter

      Pages 87-87
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    2. Asset Substitutability and the Impact of Federal Deficits

      • V. Vance Roley
      Pages 89-115

    3. Discussion

      • Frederic S. Mishkin
      Pages 117-120

    4. Investment Versus Savings Incentives: The Size of the Bang for the Buck and the Potential for Self-Financing Business Tax Cuts

      • Alan J. Auerbach, Laurence J. Kotlikoff
      Pages 121-149

    5. Discussion

      • Franco Modigliani
      Pages 151-154

  4. The Political Sources and Consequences of Deficits

    1. Front Matter

      Pages 155-155
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    2. Public Deficits in Normative Economics and Positive Political Theory

      • Peter H. Aranson
      Pages 157-182

    3. A Constitutional Cure for Deficits

      • Alvin Rabushka
      Pages 183-199

    4. Discussion

      • Roger G. Noll
      Pages 201-210

    5. Discussion

      • Kenneth A. Shepsle
      Pages 211-219

  5. Keynote Address

    1. Front Matter

      Pages 221-221
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    2. Dealing with Deficits and The Rise in Federal Spending

      • Murray L. Weidenbaum
      Pages 223-235

  6. Back Matter

    Pages 237-242
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Keywords

About this book

On October 29 and 30, 1982, the Center for the Study of American Business and the Institute for Banking and Financial Markets at Washington "The Economic Consequences of University cosponsored a conference on Government Deficits. " This was the sixth annual Economic Policy Con­ ference sponsored by the Center, and the first it has cosponsored with the Institute. This book contains the papers and comments delivered at that conference. Recent and prospective large federal deficits have prompted a thorough reconsideration of the political sources and economic consequences of government deficits. The papers in Part I focus on the implications of deficits for monetary growth and inflation, and the papers in Part II consider the effect of deficits on interest rates and capital formation. The papers in Part III deal with the political sources and remedies for the explosive growth in government spending and increased reliance on deficits. The papers in Part I by Alan S. Blinder, Professor of Economics at Princeton University, and Preston J. Miller, Assistant Vice President and Research Advisor at the Federal Reserve Bank of Minneapolis, discuss the relation between monetary growth and deficits and present evidence on the of deficits on inflation and output. A deficit is said to be monetized effects vii viii THE ECONOMIC CONSEQUENCES OF GOVERNMENT DEFICITS when the Federal Reserve purchases bonds to aid the Treasury in financing the deficit.

Editors and Affiliations

  • Washington University, USA

    Laurence H. Meyer

Bibliographic Information

  • Book Title: The Economic Consequences of Government Deficits

  • Editors: Laurence H. Meyer

  • Series Title: Economic Policy Conference Series

  • DOI: https://doi.org/10.1007/978-94-009-6684-0

  • Publisher: Springer Dordrecht

  • eBook Packages: Springer Book Archive

  • Copyright Information: Kluwer-Nijhoff Publishing 1983

  • Softcover ISBN: 978-94-009-6686-4Published: 12 March 2012

  • eBook ISBN: 978-94-009-6684-0Published: 06 December 2012

  • Series ISSN: 0924-5421

  • Edition Number: 1

  • Number of Pages: 256

  • Topics: Macroeconomics/Monetary Economics//Financial Economics

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