Crowding Out Fiscal Stimulus
ISBN:
978-3-319-45966-0
Auflage:
1st ed. 2017
Verlag:
Springer International Publishing
Land des Verlags:
Schweiz
Erscheinungsdatum:
19.12.2016
Format:
Hardcover
Seitenanzahl:
272
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This book presents overwhelming evidence that US government stimulus programs over the past fifty years have not worked. Using the best and most modern econometric testing models, it applies 228 separate hard science tests to examine the effects of different stimulus models that should, in theory, have shown positive results. By testing every possible alternative interpretation, starting with one time period and then retesting in three additional time periods, this definitive study finds that even when favoring pro-stimulus Keynesian models, public financing through government tax cuts and spending increase programs is more likely to drive down - or "crowd out" - as much private sector spending as it stimulates in the public sector.
Schlagwörter
Biografische Anmerkung
John J. Heim is Visiting Professor at University of Albany-SUNY, and retired Clinical Professor of Economics at Rensselaer Polytechnic Institute, both in New York, USA.
