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Keywords:Expenditures, Public 

Working Paper
Global versus country-specific productivity shocks and the current account

For G-7 countries over the period 1961-1990, there appears to be a strong and stable negative correlation between annual changes in the current account and investment. Here we explore this correlation using a highly tractable empirical model that distinguishes between global and country-specific shocks. This distinction turns out to be quite important empirically, as global shocks account for roughly fifty percent of the overall variance of productivity. An apparent puzzle, however, is that the current account seems to respond by much less than investment to country-specific productivity ...
International Finance Discussion Papers , Paper 443

Report
Capital flight from debtor nations when labor is mobile

Research Paper , Paper 9126

Working Paper
Oil, productivity, government spending and the real yen-dollar exchange rate

Pacific Basin Working Paper Series , Paper 91-06

Journal Article
Controlling federal outlays: trends and proposals

Review , Volume 67 , Issue Jun

Journal Article
Economic and monetary aspects of the defense program

Federal Reserve Bulletin , Issue Feb

Newsletter
Community development spending, 1981–2004

Millions of low-income individuals in the U.S. are aided through community development programs, which are funded by federal, state, and local governments. The authors consider whether federal transfers and expenditures from moneys generated by states and localities respond to state-level trends in unemployment and poverty.
Chicago Fed Letter , Issue Nov

Journal Article
After three rounds: 2-1

FRBSF Economic Letter

Journal Article
The expected federal budget surplus: how much confidence should the public and policymakers place in the projections?

When the government runs a deficit, it can borrow from the public?that is, it can create debt. Conversely, when the government runs a surplus, it can retire that debt. For the past three years, the federal government has recorded budget surpluses, and both the White House Office of Management and Budget and the Congressional Budget Office project that these surpluses will increase for at least the next decade. If these projections prove to be accurate, the $3.5 trillion of publicly held federal debt could be eliminated by around 2010. This article, which was written prior to the updated ...
Review , Volume 83 , Issue Mar , Pages 11-24

Working Paper
Co-integration and the government's budget deficit

Research Working Paper , Paper 86-12

Working Paper
The output, employment, and interest rate effects of government consumption

Working Paper Series, Macroeconomic Issues , Paper 90-10

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