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The supply-side consequences of U.S. fiscal policy in the 1980s

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  • M. Akbar Akhtar
  • Ethan S. Harris

Abstract

Fiscal policy changes in the 1980s had several possible implications for the long-run performance of the U.S. economy. The authors review the impact of tax reductions on saving, investment, and work effort, the implications of increased federal deficits for national saving and private investment, and the effect of shifts in the composition of government spending on public capital formation and on research and development. Using results from the empirical literature, the authors attempt to quantify the effects of these fiscal changes on the nation's economic potential.

Suggested Citation

  • M. Akbar Akhtar & Ethan S. Harris, 1992. "The supply-side consequences of U.S. fiscal policy in the 1980s," Quarterly Review, Federal Reserve Bank of New York, vol. 17(Spr), pages 1-20.
    • Handle: RePEc:fip:fednqr:y:1992:i:spr:p:1-20:n:v.17no.1
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    References listed on IDEAS

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    1. Roger S. Smith, 1990. "Factors Affecting Saving, Policy Tools, and Tax Reform: A Review," IMF Staff Papers, Palgrave Macmillan, vol. 37(1), pages 1-70, March.
    2. Lawrence Summers & Chris Carroll, 1987. "Why Is U.S. National Saving So Low?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 18(2), pages 607-642.
    3. Steven F. Venti & David A. Wise, 1990. "Have IRAs Increased U. S. Saving?: Evidence from Consumer Expenditure Surveys," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(3), pages 661-698.
    4. Steven F. Venti & David A. Wise, 1987. "IRAs and Saving," NBER Chapters, in: The Effects of Taxation on Capital Accumulation, pages 7-52, National Bureau of Economic Research, Inc.
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