Journal Article
How little we know about deficit policy effects
Abstract: We use a simple model to show why previous empirical studies of budget policy effects are flawed. Due to an identification problem, those studies' findings can be shown to be consistent with policies either mattering or not. We argue that this problem is difficult and not likely to be resolved soon.
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Bibliographic Information
Provider: Federal Reserve Bank of Minneapolis
Part of Series: Quarterly Review
Publication Date: 1992
Volume: 16
Issue: Win
Pages: 2-11