NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Estimated Macroeconomic Effects of Deficit Targeting

Ray C. Fair

NBER Working Paper No. 1814
Issued in 1986
NBER Program(s):Economic Fluctuations and Growth

Somemacroeconomic effects of deficit targeting are estimated in thispaper using my U.S. econometric model. The response of the economy to realand price shocks is examined in a number of cases. Each case corresponds toa particular assumption about fiscal policy and a particular assumptionabout monetary policy. Estimates are also presented of the size of thegovernment spending cuts that are needed to meet a given deficit goal underdifferent assumptions about monetary policy.

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Document Object Identifier (DOI): 10.3386/w1814

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