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Debt and the Effects of Fiscal Policy

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NBER2007-01-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12822
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A shift in taxes or in government spending (a "fiscal shock") at some point in time puts a constraint on the path of taxes and spending in the future, since the government intertemporal budget constraint will eventually have to be met. This simple fact is surprisingly overlooked in analyses of the
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2007-01-01
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