Contemporary Economic Problems

Deficits, Taxes, and Economic Adjustments

• Author(s): Phillip Cagan, Eduardo Somensatto,
• Publisher: American Enterprise Institute
• Pages: 332
• ISBN_10: 084473621X
  ISBN_13: 9780844736211
  
• Language: en
• Categories: Business & Economics / Economic Conditions , Business & Economics / Public Finance , Business & Economics / Taxation / General , Business & Economics / Economics / General , Business & Economics / International / Economics & Trade , Political Science / Public Policy / Economic Policy ,

Description:... This collection of essays provides background information on U.S. economic policy and reviews the effects of the Reagan economic program. Jacob Dreyer, Gottfried Haberler, and Kenneth Brown believe that budget deficit creates the trade deficit, as foreigners export to the U.S. to acquire dollars for the capital flow that finances U.S. debt. Phillip Cagan finds that the recent disinflation is the result of restrained economic growth amid ample productive capacity. Other contributors review the incentive improvements from the Tax Reform Act of 1986; the dramatic redistribution of fiscal responsibility to state and local government; and the emphasis on the elderly and poor. ISBN 0-8447-3621-X : $27.50.