Consequences of Government Deficitsand Debt

Glenn Hubbard

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Fiscal Policies and Political Economy Economic and Fiscal Studies Economic Theory and Policy

Abstract

omissions in this essay are mine. Neither a borrower nor a lender be, For loan oft loses both itself and friend, And borrowing dulls the edge of husbandry.

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1999An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output 1998The Behavior of U. S. Public Debt and Deficits 1998Costly capital reallocation and the effects of government spending 2006Household Expenditure and the Income Tax Rebates of 2001 1955The Economic Report of the President.2009New Evidence on the Interest Rate Effects of Budget Deficits and Debt 1990Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries 2009New Keynesian versus Old Keynesian Government Spending Multipliers

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