A simple approach to balancing government budgets over the business cycle

被引：0
|
作者：
Elder, Erick Michael [1 ]
Wagner, Gary A. [1 ]
机构：
[1] Univ Arkansas, Dept Econ & Finance, Little Rock, AR 72204 USA
来源：
APPLIED ECONOMICS LETTERS | 2012年 / 19卷 / 07期
关键词：
rainy day fund; business cycles; regime switching; balanced budget; MARKOV-SWITCHING MODEL; STATE;
D O I：
10.1080/13504851.2011.595672
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Despite the renewed interest in fiscal rules to constrain government deficits and debt, most rules provide no guidelines for reaching fiscal objectives in practice. This note demonstrates how to construct simple and transparent savings-rate rules that could aid policymakers if balancing the budget over the business cycle is a goal.
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页码：677 / 681
页数：5
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