Journal Article
Fiscal headwinds: Is the other shoe about to drop?
Abstract: Federal fiscal policy during the recession was abnormally expansionary by historical standards. However, over the past 2 years it has become unusually contractionary as a result of several deficit reduction measures passed by Congress. During the next three years, we estimate that federal budgetary policy could restrain economic growth by as much as 1 percentage point annually beyond the normal fiscal drag that occurs during recoveries.
Keywords: Fiscal policy - United States;
Access Documents
File(s): File format is text/html http://www.frbsf.org/economic-research/publications/economic-letter/2013/june/fiscal-headwinds-federal-budget-policy/
File(s): File format is application/pdf https://www.frbsf.org/wp-content/uploads/el2013-16.pdf
Authors
Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2013
Order Number: 16