Princeton University Library Catalog

Crowding out fiscal stimulus : testing the effectiveness of US government stimulus programs / John J. Heim.

Author:
Heim, John J. [Browse]
Format:
Book
Language:
English
Published/​Created:
  • Cham, Switzerland : Palgrave Macmillan, [2017]
  • ©2017
Description:
xxi, 272 pages : illustrations ; 22 cm
Summary note:
"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."--Publisher's website.
Bibliographic references:
Includes bibliographical references (pages 263-265) and index.
Contents:
Introduction -- Theory of crowd out -- Literature review -- Methodology -- Test results : consumer spending and borrowing models (one-variable deficit) -- Test results : investment spending and borrowing models (one-variable deficit) -- Test results : consumer spending and borrowing models (two-variable deficit) -- Test results : investment spending and borrowing models (two-variable deficit) -- Are finding of one- and two-variable deficit models consistent? -- Effects of stimulus programs on GDP, net of crowd out effects -- Dynamic effects -- Alternatives to financing stimulus programs with domestic borrowing -- A note on the disposable income variable used in consumption models -- Do crowd out effects differ in recession and non-recession periods? -- Does the Gale and Orszag hypothesis explain tax and spending effects better in recessions than non-recession periods? -- Summary of findings and conclusion.
Subject(s):
ISBN:
  • 331945966X
  • 9783319459660
LCCN:
2016954261
OCLC:
954535562
Other views:
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