Austerity measures are economic policies aimed at controlling the budget deficit by reducing government spending and increasing taxes. They are implemented when the national debt to GDP ratio is unsustainable, preventing default on bond obligations.
A detailed exploration of automatic stabilizers, their mechanisms, historical context, importance in economics, examples, and related terms.
Understanding the Balanced Budget Multiplier in Keynesian Economics, its mathematical formulation, historical context, and applications in economic policy.
A deep dive into the world of classified government funds allocated for secret operations and projects, known as the black budget.
Limits set on overall expenditure in cash terms to promote efficient use of resources, particularly in the public sector.
A Comprehensive Spending Review (CSR) is a periodic review process undertaken by governments to set multi-year budgets for various government departments, determining allocation of resources and priorities for public spending.
Crowding In refers to the phenomenon where government borrowing and spending encourage increased private sector investment, especially during economic recessions where government expenditure revitalizes economic activity.
Understanding the economic phenomenon where increased government spending leads to a decrease in private sector spending, either completely or partially.
An in-depth examination of government spending cuts, their types, historical context, implications, examples, and related concepts.
A comprehensive examination of cyclical adjustment, a technique used to modify economic figures to reflect their trend levels. This includes historical context, methodologies, significance, and practical applications.
A comprehensive look at the cyclically adjusted budget deficit, its importance, historical context, calculations, and implications in economics.
An in-depth examination of deadweight debt, its categories, historical context, and implications on personal, business, and government finances.
Understanding the difference between a government’s deficit and national debt is crucial in grasping public finance and economics.
An in-depth exploration of discretionary spending, including its historical context, types, key events, mathematical models, charts, applicability, and more.
Earmarks: A detailed exploration of the term, its historical context, types, and applications in politics. Understand how earmarked funds influence budgeting and government spending.
Easy fiscal policy involves cutting taxes, increasing government spending, and tolerating resulting budget deficits to stimulate a depressed economy, with long-term implications for government debt.
An in-depth exploration of entitlement programs in the US, their history, categories, importance, and implications.
Comprehensive coverage of expenditure, including types, historical context, key events, mathematical models, and its importance in various sectors.
An in-depth look into the methods, principles, and importance of federal procurement, along with its historical context and key processes.
The Fiscal Cliff refers to a situation where expiring tax cuts and across-the-board government spending cuts are scheduled to become effective simultaneously, causing potential economic challenges.
Fiscal Illusion refers to a systematic misperception of the tax burden by taxpayers when government revenues are unobserved or not fully observed, which may distort democratic decisions on fiscal issues.
An in-depth exploration of Fiscal Policy, its historical context, types, key events, importance, and applicability. Learn about the intricacies of fiscal policy, its impact on the economy, and how it contrasts with monetary policy.
The use of taxation and government spending to influence economic conditions.
A comprehensive analysis of Fiscal Policy and Monetary Policy, including definitions, types, examples, historical context, and applications.
Detailed insights into the spending of general government on real goods and services, excluding investment.
An in-depth look at government spending on real goods and services, including its types, significance in the economy, historical context, and examples.
The Impact Effect represents the immediate or short-term effects of economic events, pivotal in models like the multiplier-accelerator.
An in-depth exploration of income redistribution, its mechanisms, and impacts on society. Learn about taxation, government spending, and controls used to alter income distribution, and the delicate balance needed to maintain incentives for work, savings, and enterprise.
Injection refers to the introduction of income into the economy, such as investments, government spending, and exports, which enhance the circular flow of income.
An in-depth exploration of injections to the circular flow of income, their types, significance in the economy, and their impacts on economic stability.
Comprehensive coverage of interest payments, including historical context, types, importance, applicability, examples, and more.
Keynesian economists emphasize the use of fiscal policy and government spending to manage economic cycles, in contrast to monetarists who focus on monetary policy.
Macroeconomics is the branch of economics that studies economies as a whole, focusing on relationships between factors like money supply, employment, interest rates, government spending, investment, and consumption.
A comprehensive exploration of the Multiplier effect, its historical context in Keynesian economics, various types, key events, mathematical formulations, and its significance in economic theory and policy.
On-budget programs require annual appropriations by governmental bodies and significantly impact the overall budget deficit or surplus. Understanding these programs is essential for comprehending government fiscal policy and budget management.
Pork Barrel refers to government spending for localized projects secured primarily to bring money to a representative's district, often criticized for being motivated by political gain rather than public need.
An extensive guide on public expenditure, encompassing historical context, types, key events, detailed explanations, mathematical models, charts, importance, examples, considerations, related terms, comparisons, interesting facts, famous quotes, and more.
An exploration of Public Finance, its historical context, key concepts, mathematical models, applications, and related terms.
Pump priming is a theory that suggests the government can instigate a permanent recovery from economic downturns through temporary increases in spending, thereby raising incomes and encouraging investment.
An in-depth exploration of Soft Budget Constraint, a fiscal phenomenon where public bodies or state-owned entities operate with the expectation that overspending will be covered by external support, often leading to inefficiencies and financial laxity.
The Unified Budget system presents both government spending and tax plans together to the UK Parliament, replacing the previous fragmented approach.
An audit of a government department, charity, or other non-profitmaking organization to assess whether or not it is functioning efficiently and giving value for the money it spends.
An in-depth exploration of automatic fiscal stabilizers, mechanisms in government spending and taxation designed to stabilize economic cycles by naturally increasing or decreasing fiscal input based on the business cycle.
A comprehensive exploration of the term 'boondoggle,' which refers to projects that are often deemed wasteful and of dubious merit.
An exploration of the term 'fiscal', encompassing its definitions, applications, historical context, and related terms in public finance and treasury management.
A comprehensive guide to understanding fiscal policy, including its definition, types, historical context, and impact on the economy.
An in-depth exploration of Fiscalist economists who advocate for the use of government taxation and spending to influence economic performance, in contrast to Monetarists who emphasize monetary policy.
A comprehensive overview of Gross Federal Debt, its components, and its implications for the economy. Learn about how Gross Federal Debt influences public and private sectors, historical context, and more.
An in-depth look at Keynesian Economics, its principles, applications, and historical context.
An in-depth exploration of budget deficits, including their causes, economic and social effects, and strategies for prevention and management.
A detailed examination of expansionary fiscal policy, exploring its risks, benefits, examples, historical context, and overall impact on economic growth.
Explore the definition, historical context, and impacts of fiscal deficits in the United States. Understand the causes, implications, and ways governments address fiscal shortfalls.
Explore the principle that governments should only borrow to invest, not for current spending, and understand its real-world applications, including the US approach to fiscal policy.
An in-depth examination of the Government Accountability Office (GAO), including its history, primary functions, impact, and key examples of its work in auditing government spending and operations in the United States.
An in-depth exploration of the Keynesian Put, including its definition, background, implications on financial markets, and how it influences investor behavior.
An in-depth exploration of pump priming, its definition, historical examples from the U.S. and Japan, and its global application to stimulate economies.
An in-depth analysis of Reaganomics, the economic policies of President Ronald Reagan that influenced government spending, regulation, and taxes.
