The Role for Discretionary Fiscal Policy in a Low Interest Rate Environment

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Martin Feldstein;

Although there is now widespread agreement in the economics profession that discretionary counter-cyclical'fiscal policy has not contributed to economic stability and may have actually been destabilizing at particular times in the past, there is one important condition ... View more
  • References (2)

    Ahearne, Alan et. al. “Preventing Deflation: Lessons from Japan's Experience in the 1990s,” International Finance Discussion Papers June 2002. The Federal Reserve Board, Washington, D.C.

    Feldstein, Martin (2001) “Japan Needs to Stimulate Spending,” Wall Street Journal, July 16, 2001

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