Crowding out fiscal stimulus : testing the effectiveness of US government stimulus programs / John J. Heim.
Heim, John J., author.
2017
HB172.5
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Title
Crowding out fiscal stimulus : testing the effectiveness of US government stimulus programs / John J. Heim.
Author
Heim, John J., author.
ISBN
9783319459677 (electronic book)
3319459678 (electronic book)
9783319459660
DOI
https://doi.org/10.1007/978-3-319-45967-7
Published
Cham, Switzerland : Palgrave Macmillan, 2017.
Language
English
Description
1 online resource (xxi, 272 pages)
Item Number
10.1007/978-3-319-45967-7 doi
Call Number
HB172.5
Dewey Decimal Classification
339
Summary
This book presents overwhelming evidence that US government stimulus programs over the past fifty years have not worked. Using the best and most modern econometric testing models, it applies 228 separate hard science tests to examine the effects of different stimulus models that should, in theory, have shown positive results. By testing every possible alternative interpretation, starting with one time period and then retesting in three additional time periods, this definitive study finds that even when favoring pro-stimulus Keynesian models, public financing through government tax cuts and spending increase programs is more likely to drive down - or "crowd out" - as much private sector spending as it stimulates in the public sector.
Bibliography, etc. Note
Includes bibliographical references and index.
Access Note
Access limited to authorized users.
Digital File Characteristics
text file
PDF
Source of Description
Online resource; title from PDF title page (viewed May 15, 2017).
Available in Other Form
Crowding out fiscal stimulus.
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1. Introduction
2. Theory of Crowd Out
3. Literature Review
4. Methodology
5. Test Results: Consumer Spending and Borrowing Models (1 Variable Deficit)
6. Test Results: Investment Spending and Borrowing Models (1 Variable Deficit)
7. Test Results: Consumer Spending and Borrowing Models (2 Variable Deficit)
8. Test Results: Investment Spending and Borrowing Models (2 Variable Deficit)
9. Are Findings of 1 and 2 Variable Consumer and Investment Deficit Models Consistent?
10. Effects of Stimulus Programs on GDP, Net of Crowd Out Effects
11. Dynamic Effects
12. Alternatives to Financing Stimulus Programs with Domestic Borrowing
13. A Note on the Disposable Income Variable in the Consumption Models
14. Do Crowd Out Effects Differ in Recessions and Nonrecession Periods?
15. Does the Gale/Orszag Hypothesis Explain Tax and Spending Effects Better in Recession than Nonrecession Periods?
16. Summary of Findings and Conclusions.

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