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- W92271427 abstract "The debate over legal requirements of a balanced federal budget has gained new life. A requirement would have strong implications for future fiscal policy. Done right, a requirement will allow Congress to combine a balanced budget with policy goals such as growth and full employment. Done wrong, the requirement can force Congress into a conflict between the balanced budget and other desirable policy goals. This paper explores the relation between a balanced-budget requirement and the structural budget deficit. A dynamic definition of the structural deficit is offered as an alternative to a traditional, static definition. The definition focuses on the performance of the economy, rather than its capacity utilization, a focus that ties the structure of the economy to the deficit via the ability of taxpayers to pay for long-term entitlement commitments." @default.
- W92271427 created "2016-06-24" @default.
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- W92271427 date "2014-01-01" @default.
- W92271427 modified "2023-09-25" @default.
- W92271427 title "A Dynamic Definition of the Structural Budget Deficit" @default.
- W92271427 doi "https://doi.org/10.2139/ssrn.2536115" @default.
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