US fiscal policy and its influence on the economic growth
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US fiscal policy and its influence on the economic growth
Annotation
PII
S207054760010677-1-
Publication type
Article
Status
Published
Authors
Vladimir Vasiliev 
Occupation: Chief Scientific Researcher
Affiliation: Institute for the U.S. and Canadian Studies of the Russian Academy of Sciences
Address: Russian Federation, Moscow
Edition
Abstract

The influence of the American fiscal stimulus programs on the US economy' overcoming of 2007-2009 crisis is analyzed. The main conclusion is that this crisis fundamentally changed the state role in the economy making the active budget policy an integral part of economic policy during all phases of the economic cycle. The structure and effects of the American Recovery and Reinvestment Plan on the rates of economic growth, unemployment levels and employment are analyzed in details. The influence on US economic development of other fiscal stimulus programs and acts, authorized in 2008, 2010-2012, is also analyzed. It is underlined that in contemporary economic conditions fiscal stimulus is necessary factor of stable rates of economic growth although it created extremely acute problem of permanent budget deficits and rapidly growing federal debt.

Keywords
fiscal policy, economic growth, fiscal stimulus, American Recovery and Reinvestment Plan, multiplier effects, budget deficit, federal government debt
Received
20.08.2015
Date of publication
31.10.2015
Number of purchasers
1
Views
2786
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0.0 (0 votes)
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S207054760010677-1-1 Дата внесения правок в статью - 27.07.2020
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References

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2. Rasschitano po: Ibidem.

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7. Ibid., p. 138.

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12. Rasschitano po: Ibidem.

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15. Ibid., p. 8.

16. Ibid., p. 12.

17. Ibid., p. 34.

18. Ibid., p. 24.

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20. Rasschitano po: Ibidem.

21. Ibid., p. 158.

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23. Ibid., pp. 74, 79.

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