The Economic Consequences of Government Deficits

In: Economic Policy Conference Series 2

Abstract

I Impact of Deficits on Monetary Growth and Inflation -- 1 Examining the Proposition that Federal Budget Deficits Matter -- Discussion -- 2 On the Monetization of Deficits -- Discussion -- II Impact of Deficits on Interest Rates and Capital Formation -- 3 Asset Substitutability and the Impact of Federal Deficits -- Discussion -- 4 Investment versus Savings Incentives: The Size of the Bang for the Buck and the Potential for Self-Financing Business Tax Cuts -- Discussion -- III The Political Economy of Deficits -- 5 Public Deficits in Normative Economics and Positive Political Theory -- 6 A Constitutional Cure for Deficits -- Discussion -- Discussion -- IV Keynote Address -- 7 Dealing with Deficits and the Rise in Federal Spending -- Contributing Authors.