Public Finance

  1. Fiscal Policy and Macroeconomic Stabilization
    1. The Government Budget Constraint
      1. Sources of Government Revenue
        1. Tax Revenues
          1. Non-Tax Revenues
            1. Borrowing
            2. Government Expenditure Categories
              1. Current vs. Capital Expenditures
                1. Mandatory vs. Discretionary Spending
                2. Measuring the Budget Balance
                  1. Cash vs. Accrual Accounting
                    1. Cyclically Adjusted Budgets
                      1. Primary vs. Total Balance
                        1. Structural vs. Cyclical Components
                      2. Fiscal Policy for Economic Stabilization
                        1. Keynesian Fiscal Policy
                          1. Aggregate Demand Management
                            1. Multiplier Effects
                            2. Discretionary Fiscal Policy
                              1. Government Spending Multipliers
                                1. Tax Multipliers
                                  1. Balanced Budget Multiplier
                                    1. Lags in Fiscal Policy
                                      1. Recognition Lag
                                        1. Implementation Lag
                                          1. Impact Lag
                                        2. Automatic Stabilizers
                                          1. Progressive Income Taxation
                                            1. Unemployment Insurance
                                              1. Transfer Payments
                                                1. Effectiveness of Automatic Stabilizers
                                                2. Supply-Side Effects of Fiscal Policy
                                                  1. Tax Effects on Work Incentives
                                                    1. Tax Effects on Saving and Investment
                                                  2. Government Debt and Deficits
                                                    1. The Economics of Budget Deficits
                                                      1. Short-run Effects on Aggregate Demand
                                                        1. Long-run Effects on Capital Formation
                                                          1. Crowding Out
                                                            1. Interest Rate Effects
                                                              1. Exchange Rate Effects
                                                              2. Ricardian Equivalence
                                                                1. Theoretical Foundations
                                                                  1. Empirical Evidence
                                                                2. The National Debt
                                                                  1. Measuring Government Debt
                                                                    1. Gross vs. Net Debt
                                                                      1. Debt-to-GDP Ratio
                                                                        1. Present Value of Future Obligations
                                                                        2. The Burden of the Debt
                                                                          1. Internal vs. External Debt
                                                                            1. Intergenerational Equity
                                                                              1. Debt Service Costs
                                                                              2. Debt Sustainability
                                                                                1. Debt Dynamics
                                                                                  1. Fiscal Rules and Limits
                                                                                    1. Default Risk and Credit Ratings
                                                                                  2. Fiscal Consolidation
                                                                                    1. Expenditure-Based vs. Tax-Based Consolidation
                                                                                      1. Timing and Sequencing
                                                                                        1. Political Economy of Fiscal Adjustment

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                                                                                    5. The Structure of the Tax System

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                                                                                    7. Fiscal Federalism and Intergovernmental Relations