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Crowding out fiscal stimulustesting ...

Heim, John J.

Crowding out fiscal stimulustesting the effectiveness of US government stimulus programs /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Crowding out fiscal stimulusby John J. Heim.
Reminder of title:	testing the effectiveness of US government stimulus programs /
Author:	Heim, John J.
Published:	Cham :Springer International Publishing :2017.
Description:	xxi, 272 p. :ill., digital ;22 cm.
Contained By:	Springer eBooks
Subject:	Consumption (Economics)
Subject:	United States
Online resource:	http://dx.doi.org/10.1007/978-3-319-45967-7
ISBN:	9783319459677$q(electronic bk.)

Crowding out fiscal stimulustesting the effectiveness of US government stimulus programs /
Heim, John J.

Crowding out fiscal stimulustesting the effectiveness of US government stimulus programs /[electronic resource] :by John J. Heim. - Cham :Springer International Publishing :2017. - xxi, 272 p. :ill., digital ;22 cm.

1. Introduction -- 2. Theory of Crowd Out -- 3. Literature Review -- 4. Methodology -- 5. Test Results: Consumer Spending and Borrowing Models (1 Variable Deficit) -- 6. Test Results: Investment Spending and Borrowing Models (1 Variable Deficit) -- 7. Test Results: Consumer Spending and Borrowing Models (2 Variable Deficit) -- 8. Test Results: Investment Spending and Borrowing Models (2 Variable Deficit) -- 9. Are Findings of 1 and 2 Variable Consumer and Investment Deficit Models Consistent? -- 10. Effects of Stimulus Programs on GDP, Net of Crowd Out Effects -- 11. Dynamic Effects -- 12. Alternatives to Financing Stimulus Programs with Domestic Borrowing -- 13. A Note on the Disposable Income Variable in the Consumption Models -- 14. Do Crowd Out Effects Differ in Recessions and Nonrecession Periods? -- 15. Does the Gale/Orszag Hypothesis Explain Tax and Spending Effects Better in Recession than Nonrecession Periods? -- 16. Summary of Findings and Conclusions.

This book presents overwhelming evidence that US government stimulus programs over the past fifty years have not worked. Using the best and most modern econometric testing models, it applies 228 separate hard science tests to examine the effects of different stimulus models that should, in theory, have shown positive results. By testing every possible alternative interpretation, starting with one time period and then retesting in three additional time periods, this definitive study finds that even when favoring pro-stimulus Keynesian models, public financing through government tax cuts and spending increase programs is more likely to drive down - or "crowd out" - as much private sector spending as it stimulates in the public sector.

ISBN: 9783319459677$q(electronic bk.)

Standard No.: 10.1007/978-3-319-45967-7doiSubjects--Topical Terms:

176660
Consumption (Economics)
Subjects--Geographical Terms:

236377
United States

LC Class. No.: HJ7537 / .H44 2017

Dewey Class. No.: 336.30973

Crowding out fiscal stimulustesting the effectiveness of US government stimulus programs /
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505 0 $a 1. Introduction -- 2. Theory of Crowd Out -- 3. Literature Review -- 4. Methodology -- 5. Test Results: Consumer Spending and Borrowing Models (1 Variable Deficit) -- 6. Test Results: Investment Spending and Borrowing Models (1 Variable Deficit) -- 7. Test Results: Consumer Spending and Borrowing Models (2 Variable Deficit) -- 8. Test Results: Investment Spending and Borrowing Models (2 Variable Deficit) -- 9. Are Findings of 1 and 2 Variable Consumer and Investment Deficit Models Consistent? -- 10. Effects of Stimulus Programs on GDP, Net of Crowd Out Effects -- 11. Dynamic Effects -- 12. Alternatives to Financing Stimulus Programs with Domestic Borrowing -- 13. A Note on the Disposable Income Variable in the Consumption Models -- 14. Do Crowd Out Effects Differ in Recessions and Nonrecession Periods? -- 15. Does the Gale/Orszag Hypothesis Explain Tax and Spending Effects Better in Recession than Nonrecession Periods? -- 16. Summary of Findings and Conclusions.
520 $a This book presents overwhelming evidence that US government stimulus programs over the past fifty years have not worked. Using the best and most modern econometric testing models, it applies 228 separate hard science tests to examine the effects of different stimulus models that should, in theory, have shown positive results. By testing every possible alternative interpretation, starting with one time period and then retesting in three additional time periods, this definitive study finds that even when favoring pro-stimulus Keynesian models, public financing through government tax cuts and spending increase programs is more likely to drive down - or "crowd out" - as much private sector spending as it stimulates in the public sector.
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