APPLICATION OF NORMS FOR FISCAL DEFICITS
his article analyzes the shortfall in tax revenue on the basis of the following aspects; its situation during the Second World War; criticism of the "golden rule", the distinction between running expenses and investment expenditure; questioning the ideas of the "right size" of t...
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| Formato: | artículo |
| Estado: | Versión publicada |
| Fecha de publicación: | 2011 |
| País: | México |
| Recursos: | UNIVERSIDAD NACIONAL AUTÓNOMA DE MÉXICO |
| Repositorio: | Problemas del Desarrollo. Revista Latinoamericana de Economía |
| Idioma: | español |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/28181 |
| Acesso em linha: | https://www.probdes.iiec.unam.mx/index.php/pde/article/view/28181 |
| Access Level: | acceso abierto |
| Palavra-chave: | Déficit fiscal teoría general Keynes finanzas regla de oro ingresos |
| Resumo: | his article analyzes the shortfall in tax revenue on the basis of the following aspects; its situation during the Second World War; criticism of the "golden rule", the distinction between running expenses and investment expenditure; questioning the ideas of the "right size" of the budgetary deficit and its repercussions on "response policies"; income distribution and a description of an alternative approach (based on the Godley and Rowthorn model) to public spending, The author ends by pointing out two issues. Firstly, there is no basis to prove that it is appropriate the budgetary gap should only cover investment spending, as state in the "golden rule", secondly, a consistent response to this deficit must combine there goals: achieving lower interest rates, stimulating investment and reducing saving. |
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