How Long to Read Deficit Limits, Budget Rules and Fiscal Policy

How Long Does it Take to Read Deficit Limits, Budget Rules and Fiscal Policy?

It takes the average reader and 19 minutes to read Deficit Limits, Budget Rules and Fiscal Policy by Paolo Manasse

Assuming a reading speed of 250 words per minute. Learn more

Description

The paper presents a simple model for discussing the effects of deficit limits and budget rules on fiscal policy. I find that limits on deficit-output ratios provide incentives to implement procyclical policies when the economy is in intermediate states, and countercyclical policies only in very "good" and very "bad" economic times. As a result, fiscal "reaction functions" are not monotonically related to the state of the economy. Deficit limits are found to exert discipline only provided the limit is tight and the expected sanction large, albeit at a relatively large welfare cost. Moreover, when fiscal choices are made under a veil of ignorance about the output gap, an increase in volatility is likely to raise the level of the budget deficit. Finally, concerning the design of fiscal frameworks, when excessive deficits arise from a political bias, deficit limits should be symmetric and not state-contingent.

How long is Deficit Limits, Budget Rules and Fiscal Policy?

Deficit Limits, Budget Rules and Fiscal Policy by Paolo Manasse is 19 pages long, and a total of 4,921 words.

This makes it 6% the length of the average book. It also has 6% more words than the average book.

How Long Does it Take to Read Deficit Limits, Budget Rules and Fiscal Policy Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 26 minutes to read Deficit Limits, Budget Rules and Fiscal Policy aloud.

What Reading Level is Deficit Limits, Budget Rules and Fiscal Policy?

Deficit Limits, Budget Rules and Fiscal Policy is suitable for students ages 6 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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