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- W1604445225 abstract "Despite the many references to an “Anglo-Saxon model” there were, as the financial crisis unfolded, important discretionary fiscal policy differences between the US and the UK. This paper considers the reasons why the US adopted a far larger fiscal stimulus (as a share of 2008 GDP) than the UK, the Labour government in the UK committed itself to early fiscal retrenchment, and the UK failed to embrace spending projects whereas they constituted a sizeable proportion of the US total. Although relative deficit and debt levels should be considered and agency-based variables cannot be disregarded, the paper emphasizes the part played by underlying economic variables and the institutional architecture. It suggests that there were particular opportunities open to the Obama administration in its early months while the Labour government in the UK faced significant constraints." @default.
- W1604445225 created "2016-06-24" @default.
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- W1604445225 date "2011-01-01" @default.
- W1604445225 modified "2023-09-23" @default.
- W1604445225 title "Fiscal Policy Responses to the Economic Crisis in the United Kingdom and the United States: A Comparative Assessment" @default.
- W1604445225 hasPublicationYear "2011" @default.
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