Journal Article
The Macroeconomic Effects of the 2018 Bipartisan Budget Act
Abstract: The 2018 Bipartisan Budget Act raised government spending caps by $300 billion for fiscal years 2018 and 2019. While spending does not increase immediately, private sector investment and consumption may respond ahead of an anticipated fiscal stimulus. This Economic Perspectives article assesses the strength of this mechanism based on the private sector?s expectations.
Keywords: Budget; Vector autoregression;
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Bibliographic Information
Provider: Federal Reserve Bank of Chicago
Part of Series: Economic Perspectives
Publication Date: 2019
Issue: 2
Pages: 2-12