Preventing a U.S. Fiscal Crisis: An Experiment in Political Economy

• Published in: Journal of Management Policy and Practice Vol. 20; no. 1; pp. 42 - 58
• Main Author: Larson, Sven R
• Format: Journal Article
• Language: English
• Published: West Palm Beach North American Business Press 01.01.2019
• Subjects: Budget deficits; Case studies; Crises; Economic development; Economic models; Economic policy; Economic theory; Experiments; Fiscal policy; GDP; Government spending; Gross Domestic Product; Macroeconomics; Political economy; Politics; Public policy; Studies; Tax revenues; Greece; United States > US; Europe

This paper investigates the potential for a fiscal crisis of European nature in the United States. The paper uses the crisis in Greece as a case study to identify three necessary conditions for a crisis. Based on those conditions and on observed fiscal similarities between Greece and the United Stat...