IDEAS home Printed from https://ideas.repec.org/a/sae/pubfin/v6y1978i3p381-387.html
   My bibliography  Save this article

The Government Budget Constraint

Author

Listed:
  • William J. Frazer JR

    (University of Florida)

Abstract

This paper restates the government budget constraint and addresses the issue Abstract of symmetry (asymmetry, as it turns out) between the definitions of monetary and fiscal policy, as originally advanced by Blinder and Solow. The emphasis is on the arbitrary definition of monetary policy. It suits their convenience, but renders their approach inoperative. A consideration of several analytical, operational, and definitional problems constitutes a defense of the monetarist position on the government budget constraint.

Suggested Citation

  • William J. Frazer JR, 1978. "The Government Budget Constraint," Public Finance Review, , vol. 6(3), pages 381-387, July.
    • Handle: RePEc:sae:pubfin:v:6:y:1978:i:3:p:381-387
    DOI: 10.1177/109114217800600309
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/109114217800600309
    Download Restriction: no
    File URL: https://libkey.io/10.1177/109114217800600309?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Blinder, Alan S. & Solow, Robert M., 1976. "Does fiscal policy still matter? : A reply," Journal of Monetary Economics, Elsevier, vol. 2(4), pages 501-510, November.
    2. William J. Frazer, 1978. "Evolutionary Economics, Rational Expectations, and Monetary Policy," Journal of Economic Issues, Taylor & Francis Journals, vol. 12(2), pages 343-372, June.
    3. Turnovsky, Stephen J, 1975. "Monetary Policy, Fiscal Policy and the Government Budget Constraint," Australian Economic Papers, Wiley Blackwell, vol. 14(25), pages 197-215, December.
    4. Keith M. Carlson & Roger W. Spencer, 1975. "Crowding out and its critics," Review, Federal Reserve Bank of St. Louis, vol. 57(Dec), pages 2-17.
    5. Infante, Ettore F. & Stein, Jerome L., 1976. "Does fiscal policy matter?," Journal of Monetary Economics, Elsevier, vol. 2(4), pages 473-500, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Spector, Lee C, 1999. "Macroeconomic Models and the Determination of Crowding Out," Public Finance = Finances publiques, , vol. 54(1-2), pages 84-98.
    2. Yasuo Kofuji, 1984. "On the Efficacy of Fiscal Policy and Price Level Changes," Public Finance Review, , vol. 12(2), pages 167-181, April.
    3. Jérôme Creel & Henri Sterdyniak, 1995. "Les déficits publics en Europe," SciencePo Working papers Main hal-03458224, HAL.
    4. repec:hal:spmain:info:hdl:2441/2965 is not listed on IDEAS
    5. James R. Barth & James T. Bennett & Manuel H. Johnson & Richard H. Sines, 1980. "The Efficacy of Bond-Financed Fiscal Policy," Public Finance Review, , vol. 8(3), pages 323-344, July.
    6. Albert Minguet, 1979. "Reform Of Public Finance Or Abandonment Of Budgetary Policies?," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 50(1), pages 53-79, January.
    7. Jérôme Creel & Henri Sterdyniak, 1995. "Les déficits publics en Europe : causes, conséquences ou remèdes à la crise ?," Revue de l'OFCE, Programme National Persée, vol. 54(1), pages 57-100.
    8. repec:spo:wpmain:info:hdl:2441/2965 is not listed on IDEAS
    9. repec:hal:wpspec:info:hdl:2441/2961 is not listed on IDEAS
    10. Richard J. Cebula, 2008. "Small Firm Size and Health Insurance: A Private Enterprise Perspective," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 24(Fall 2008), pages 51-77.
    11. X. Henry Wang & Bill Yang & Alex Young, 2023. "On the monetary policy in an economy with banks endogenously creating money," American Journal of Economics and Sociology, Wiley Blackwell, vol. 82(2), pages 121-127, March.
    12. Jérôme Creel & Henri Sterdyniak, 1999. "La politique monétaire sans monnaie," Revue de l'OFCE, Programme National Persée, vol. 70(1), pages 111-153.
    13. Konstantakis, Konstantinos N. & Michaelides, Panayotis G., 2014. "Transmission of the debt crisis: From EU15 to USA or vice versa? A GVAR approach," Journal of Economics and Business, Elsevier, vol. 76(C), pages 115-132.
    14. repec:hal:spmain:info:hdl:2441/5221 is not listed on IDEAS
    15. Cebula, Richard & Clark, Jeff, 2014. "Impact of Economic Freedom, Regulatory Quality, and Taxation on the Per Capita Real Income: An Analysis for OECD Nations and Non-G8 OECD Nations," MPRA Paper 56605, University Library of Munich, Germany.
    16. Cebula, Richard & McGrath, Richard, 2006. "Identifying Determinants of the Cost of Long Term Borrowing for U.S. Firms: Insights for Management," MPRA Paper 49647, University Library of Munich, Germany.
    17. Michaelides, Panayotis G. & Tsionas, Efthymios G. & Konstantakis, Konstantinos N., 2018. "Debt dynamics in Europe: A Network General Equilibrium GVAR approach," Journal of Economic Dynamics and Control, Elsevier, vol. 93(C), pages 175-202.
    18. Lee, Jim, 2015. "The regional economic impact of oil and gas extraction in Texas," Energy Policy, Elsevier, vol. 87(C), pages 60-71.
    19. Visser, H., 1987. "A survey of recent developments in monetary theory," Serie Research Memoranda 0003, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    20. Fitzgerald Frank, 2023. "A road not taken? Economic ideology and the articulation of policy alternatives in Irish state economic policymaking, 1948–58," Administration, Sciendo, vol. 71(2), pages 27-51, May.
    21. Richard J. Cebula, 2013. "Budget Deficits, Economic Freedom, and Economic Growth in OECD Nations: P2SLS Fixed-Effects Estimates, 2003–2008," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 28(Spring 20), pages 75-96.
    22. Richard J Cebula, 2004. "The Impact of the Federal Budget Deficit on the Nominal Interest Rate Yield on U.S. Treasury Notes, 1979-2001," The IUP Journal of Applied Economics, IUP Publications, vol. 0(2), pages 7-18, March.
    23. Woodford, Michael, 1995. "Price-level determinacy without control of a monetary aggregate," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 43(1), pages 1-46, December.
    24. Richard Cebula & Christopher Carlos & James Koch, 1981. "The ‘crowding out’ effect of federal government outlay decisions: An empirical note," Public Choice, Springer, vol. 36(2), pages 329-336, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:pubfin:v:6:y:1978:i:3:p:381-387. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.