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This texts contains essays written by economists who review the effects of past government actions & reforms needed to avoid long term economic stagnation. Topi
The Deficit Myth
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Expansionary Austerity New International Evidence
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Authors: Mr.Daniel Leigh
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This paper investigates the short-term effects of fiscal consolidation on economic activity in OECD economies. We examine the historical record, including Budge
Do Deficits Matter?
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Authors: Daniel Shaviro
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Type: BOOK - Published: 1997-05 - Publisher: University of Chicago Press

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Do deficits matter? Yes and no, says Daniel Shaviro in this political and economic study. Yes, because fiscal policy affects generational distribution, national
Tax Smoothing in a Financially Repressed Economy
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Authors: Mr.Paul Cashin
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India has a long history of running fiscal deficits. Two broad considerations motivate a government to run a deficit: tax smoothing and tax tilting. This paper