The Economic Effects of Long-Term Fiscal Discipline

By William G. Gale. 2002

184 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/a0c01b1b5499b049d57081e64b3c2277507e2525

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Citations in the corpus

• Government Debt and Economic Growth (2013, background): “By raising long-term interest rates, higher public debt can crowd out investment (Modigliani, 1961, Gale and Orszag, 2003; Baldacci and Kumar, 2010).”
• Fiscal Policy and the Term Structure of Interest Rates (2005, unknown): “By comparison, the estimates in Gale and Orszag (2003) range from 25 to 35 basis points.”
• The macroeconomic effects of fiscal policy (2012, unknown): “For the US, the effect seems to be substantially larger (Gale and Orszag, 2002).”
• Fiscal Policy and Interest Rates in Europe (2006, background): “Gale and Orszag (2002), in their review of the empirical literature, focus mainly on the deficit variables and conclude that its effect is empirically quite large, at least for the US; a 1% increase in the deficit to GDP ratio would boost interest 3 According to Ventura (2002), the high saving…”