Automatic Fiscal Policies to Combat Recessions

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Selected Contents: Part I.Introduction1. Fiscal Policy to Combat a Severe Recession2. An Automatic Transfer (Tax Rebate)3. An Automatic Temporary Consumption Tax Cut4. Fiscal Discipline with NUBAR (A Normal Unemployment Balanced Budget Rule)5. A Fiscal Policy Advisory Board Part II.6. Recent Empirical Studies Relevant to Counter-Cyclical Fiscal Policy7. The Tax Rebate in the 1975 Recession8. The Tax Rebate in the 2001 Recession9. Early Studies of Automatic Fiscal PolicyPart III.10. Early Challenges to Counter-Cyclical Fiscal Policy11. The New Classical Counter-Revolution: A False Path for Macroeconomies12. Fiscal Policy and the Ending of the Great Depression