abstract t he relationship between public sector deficits and inflation is one of the important and controversial issues in the academic literature as well as in economic policy field. on the other hand, a major objective of macroeconomic policies is to foster economic growth and to keep inflation on a low level. so keeping the price stability plays an important role in determining the growth r...

IN 1993 THE ADMINISTRATION’S first job was to get the economy moving. The deficit reduction package enacted that year helped to reduce interest rates and restore business confidence. Since then the Federal deficit has been cut by more than half, and the economy has expanded robustly. The next task is to complete the work of deficit reduction. In 1995 and 1996 the Administration and the Congress...

The global financial crisis of 2008–09 has sent public debt on sharply higher trajectories, as governments have provided large-scale support to the financial system, implemented discretionary fiscal stimulus, and accommodated steep drops in tax revenue. With the economic recovery gradually taking hold, the focus is now shifting to fiscal “exit strategies.” Indeed, many countries are set to face...

In many states, tax and expenditure limits constrain government spending. All but one state have adopted balanced-budget rules. Some governors have the power to veto individual budget items (the so-called line-item veto). This article reviews the evidence linking fiscal and political institutions to state taxation, spending, and debt. It appears that properly designed fiscal and political insti...

the main purpose of this paper is analyses the short and long run relationship between budget deficit and trade deficit in some mena countries. the data cover the period from 1971-2000 (and for i.r. iran 1 959-2003).the relationship between these variables will be analyses in short and long run by using johansen cointegration tests, ecm, and granger causality test. the empirical evidence provid...

The existing literature on political budget cycles looks at the temptation for incumbent governments to run a greater deficit before an election by considering the characteristics of the incumbent. We propose here to look at the signals the incumbent receives from the voters. For this purpose, we consider the votes from the previous national elections and see whether they may influence the incu...

Search-based advertising is a multi-billion industry which is part of the growing electronic commerce market. In this work, we study the search-based advertising market from the advertiser’s point of view. There are three natural participants in the search-based advertising: the advertisers, promoting their products to consumers based on their search queries, the users, which are searching for ...

On December 12, 1985, the President signed into law House Joint Resolution 372 (Public Law 99-177), the debt limit bill which contains a section on deficit reduction procedures. This section is the Balanced Budget and Emergency Deficit Control Act of 1985 (also called the Gramm-Rudman-Hollings bill). This new law includes several provisions affecting the Medicare and Medical programs.