Trigger points and budget cuts: explaining the effects of fiscal austerity

Article Abstract:

An optimizing model for illustrating how fiscal policy affects economic activity is presented. Expectations are used to explain the counterintuitive outcomes of policy. The theory is based on the assumption that the public believes that the upward-trending stochastic process of government spending declines at certain 'trigger' points. A neoclassical model that uses triggers suggests that the relationship between the government-spending-to-output ratio and the consumption-to-output ratio is nonlinear.

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Turning points in the Civil War: views from the greenback market

Article Abstract:

The daily price quotations for Greenbacks, a legal tender currency issued by the Union during the Civil War which was not immediately convertible to gold, are studied to determine how people at the time regarded military, political and financial news. Findings agree with the traditional accounts. The Battle of Gettysburg was seen as a major turning point. However, in some instances, the contemporaries' views of certain events were not consistent with those of the historians.

United States history

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Partisan business and budget cycles with separate fiscal and monetary authorities

Article Abstract:

Partisan business and budget cycles are studied only where fiscal policy is entirely controlled by elected governments and an independent central bank makes monetary policy. A leftist government produces higher inflation but lower output than a rightist one in all periods, both election and nonelection. A leftist government taxes and spends more, as well.

Economic aspects, Right and left (Political science), Business cycles

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