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1. All politics is local: the effect of fiscal and monetary constitutions on economic policy

Author

Boyes, William J., Mounts, W. M. Stewart, Jr., Sowell, Clifford, and Payne, James E.

Subjects
United States. Congress -- Powers and duties, United States. Federal Reserve Board -- Powers and duties, United States -- Economic policy, Economic policy -- United States, Budget -- United States, Legislative bodies -- United States, Financial markets -- Research, Business, Economics, Congressional Budget and Impoundment Control Act of 1974
Abstract

This article examines the complex relationship between the fiscal and monetary authorities and economic policy in the United States. Changes imposed by new internal operating rules in Congress caused a shift in fiscal focus from the national economy to increasingly localized interests and resulted in a deficit-prone and autoregressive federal budget.

Published
1996

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