The meaning and treatment of an “unsustainable” budget deficit

Authors

  • B. HOPKIN
  • B. REDDAWAY

DOI:

https://doi.org/10.13133/2037-3643/10530

Keywords:

Budgetary policy, deficits

Abstract

Budgetary policy decisions in many Western countries are now overhung by anxiety about the growth of public debt. Substantial budget deficits are being run in these countries and in many of them public debt has recently grown not only in absolute terms but also as a proportion of GNP. A 'structural' deficit exists when a significant part of a budget deficit is not the result of the current recession and can be expected to remain if and when the recession is over unless the country changes its policies.

 

JEL Codes: H61, H62

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Published

2013-10-19

How to Cite

HOPKIN, B., & REDDAWAY, B. (2013). The meaning and treatment of an “unsustainable” budget deficit. PSL Quarterly Review, 47(190). https://doi.org/10.13133/2037-3643/10530

Issue

Vol. 47 No. 190 (1994)

Section

Editorial

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