All politics is local: the effect of fiscal and monetary constitutions on economic policy
Article Abstract:
This article examines the complex relationship between the fiscal and monetary authorities and economic policy in the United States. Changes imposed by new internal operating rules in Congress caused a shift in fiscal focus from the national economy to increasingly localized interests and resulted in a deficit-prone and autoregressive federal budget.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1996
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Monetary unions and the effects of seigniorage sharing
Article Abstract:
This article examines the factors that impact the optimal inflation rate, focusing on the distribution of seigniorage and the relative real income between countries. A model that considers the dynamics of monetary unions, fiscal policy, inflation rates, and the distribution of seigniorage is presented.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1997
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