My recent Project-Syndicate piece describes the German proposal for a
fiscal rule that would require cutting deficits even when those deficits
were caused by economic downturns. Fortunately it looks like that idea has
since been cancelled
You can read about the original proposal in
http://www.nber.org/feldstein/projectsyndicatejan2012.html
Marty
Received on Fri Feb 10 2012 - 18:10:51 EST