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Author: R. Tiff Macklem
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 70
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Book Description
Author: R. Tiff Macklem
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 70
Get Book Here
Book Description
Author: Tiff Macklem
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
This paper examines the macroeconomic implications of rising government debt in Canada and the short-run costs and long-run benefits of stemming the rise. The discussion begins with an evaluation of the long-run consequences of increasing government indebtedness, first based on the simple arithmetic of the government's long-run budget constraint, and then based on simulations of the Bank of Canada's main model of the Canadian economy, which incorporates several channels through which government debt may affect real economic activity. The principal conclusion is that the main economic cost of higher government debt is a lower sustainable level of domestic consumption. Simulations with the full dynamic model highlight the trade- off of short-run loss for long-run gain presented by deficit reduction. There are important short-run costs of stemming a rise in debt. However, the results of this paper show that substantial net gains are obtained from doing so, since the present value of the permanent long-term gains in consumption far outweigh these short-term costs. The simulations also suggest that a fiscal contraction would require an easing of monetary conditions relative to what they would have otherwise been to maintain an inflation target.
Author: Richard G. Harris
Publisher: Kingston, Ont. : John Deutsch Institute for the Study of Economic Policy
ISBN:
Category : Business & Economics
Languages : en
Pages : 212
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Author: Christopher Ragan
Publisher: IRPP
ISBN: 9780886452063
Category : Business & Economics
Languages : en
Pages : 382
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Author: C.D. Howe Institute
Publisher:
ISBN:
Category : Budget deficits
Languages : en
Pages : 360
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Book Description
From the back cover: Willingly or not Canadian governments are making deficit reduction and control of public debt conerstones of their economic policies. Yet the consequences of deficit reduction, like the effects of deficits themselves, are matters of controversy among economists and policymakers. The size and nature of the burdens imposed by mounting government debt are uncertain, while predictions of the benefits and cost of fiscal retrenchment are sensitive to key assumptions about economic structure, the strategy of the budget-balancing exercise, and complementary government policies. This volume presents state-of-the-art investigations of these problems from a number of leading Canadian economists.
Author: Canada. Department of Finance
Publisher: Department of Finance Canada = Ministère des Finances Canada
ISBN:
Category : Budget
Languages : en
Pages : 76
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Author: Canada. Office of the Auditor General
Publisher: Le Bureau
ISBN:
Category : Business & Economics
Languages : en
Pages : 138
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This document presents the proceedings of the Colloquium on deficits and debt held on April 28 and 29, 1993. It contains three background papers, the keynote address, the opening remarks, and the joint report of the workshops.
Author: Gary Rabbior
Publisher:
ISBN:
Category : Budget
Languages : en
Pages : 58
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Author: Canada. Department of Finance
Publisher:
ISBN:
Category : Budget deficits
Languages : en
Pages :
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Author: James Roy Perry
Publisher: Librarian, University of Toronto
ISBN:
Category : Debts, Public
Languages : en
Pages : 96
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Book Description
