TY  - JOUR
AU  - Fair,Ray C.
TI  - Estimated Macroeconomic Effects of Deficit Targeting
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 1814
PY  - 1986
Y2  - 1986
UR  - http://www.nber.org/papers/w1814
L1  - http://www.nber.org/papers/w1814.pdf
N1  - Author contact info:
Ray C. Fair
Cowles Foundation
P.O. Box 208281
Yale University
New Haven, CT  06520-8281
E-Mail: ray.fair@yale.edu
AB  - 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.
ER  -