Restoring Sustainable Macroeconomic Policies in the United States
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A01=Barry W. Poulson
A01=John Merrifield
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Author_Barry W. Poulson
Author_John Merrifield
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budget reform
Category1=Non-Fiction
Category=KCB
Category=KCBM
Category=KCP
COP=United States
debt fatigue
debt sustainability
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eq_bestseller
eq_business-finance-law
eq_isMigrated=2
eq_nobargain
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fiscal policy
Language_English
macroeconomic policy
monetary policy
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Price_€50 to €100
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softlaunch
Product details
- ISBN 9781666916607
- Weight: 481g
- Dimensions: 159 x 236mm
- Publication Date: 12 Oct 2022
- Publisher: Bloomsbury Publishing Plc
- Publication City/Country: US
- Product Form: Hardback
- Language: English
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Slowing economic growth and debt fatigue continue to hamper fiscal policy in the United States. The question is whether there is an alternative path to the one projected in CBO long term forecasts, and if so, how citizens can choose this alternative path. The experiences of Germany, Sweden, and Switzerland reveal that an alternative path of sustainable debt is possible, and that citizens in a democratic society are capable of choosing that path. This book explores the potential impact of Swiss-style fiscal rules on the U.S. budget and the economy over the next three decades. The dynamic simulation analysis reveals that with these fiscal rules in place, it is possible for the U.S. to stabilize and reduce debt to sustainable levels over the forecast period. The government must preserve policy credibility by demonstrating a commitment to meet the challenges of economic shocks. The recent economic crises have provided a learning experience, and the rules-based macroeconomic framework required for this new era may differ significantly from that of the past. With new fiscal rules in place, the U.S. can restore long term economic growth. However, empirical analysis reveals how difficult this challenge will be, and why the U.S. is likely to continue to experience debt fatigue.
Barry W. Poulson is emeritus professor of economics at the University of Colorado.
John Merrifield is head of the Institute for Objective Policy Assessment and was a member of the faculty at the University of Texas at San Antonio for 32 years.
