Government budget deficits and trade deficits: are present value constraints satisfied in long-term data?

Article Abstract:

Present value constraints continue to hold despite events that cause structural alterations in the short-run dynamics of variables. This was revealed by a test of whether long-term data from the US and the UK are consistent with the intertemporal government budget constraint and external borrowing constraint. Results strongly indicate that government and external present value constraints are satisfied over the entire sample period.

Analysis, Balance of trade, External debts, Budget deficits

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Inflation and the great ratios: long-term evidence from the US

Article Abstract:

The long term impact of moderate inflation on output, investment and consumption appears to be positive, according to data for the US for a 100-year period.

Prices, Economic aspects, History, Inflation (Finance), United States economic conditions, Economic indicators

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On the analytics of the dynamic Laffer curve

Article Abstract:

Government budget balance was analyzed using a simple model of endogenous growth, and conceptual issues in dynamic revenue analysis are examined.

Legislative Bodies, Budget, Supply-side economics

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