An aggressive stimulus was not part of Canada's antirecession
Not surprisingly, the Taylor and Feldstein regressions do not yield a precise, robust coefficient estimate for the tax rebate variable because there have been very few antirecession
In short, both crisis management and institutional authoritarianism explanations offer plausible accounts of the prompt convergence among Chinese policymakers on their 2008-2009 antirecession
The article then goes on to summarize the legislative history of the administration's key economic policy initiatives, the antirecession
program and the financial reform law, and then to put these policy actions into the context of party competition by tracing the actions of the conservative opposition in the legislative arena and in the election campaign.
He added: "I think it is the antirecession
policy was not helpful either.
For example, in response to the recession of 1973-75, (4) Congress enacted the Antirecession
Fiscal Assistance (ARFA) program, which was combined with general revenue sharing grants and the Local Public Works (LPW) program to provide unrestricted grants and infrastructure funding to the states.
In a 1978 monograph, Robert Crider wrote, "it is important to determine how state and local governments fit into national antirecession
policies." Hansen and Perloff, two prominent economists of that time, made much the same point in 1944.
Twice during the presidential-campaign debates, Barack Obama termed early-childhood education one of his highest priorities, and even before serious planning got under way for an antirecession
"stimulus" package, he had pledged to this priority an additional $10 billion in annual federal funding.
This is a point worth keeping in mind when making conjectures about the effects of quickly adopted antirecession
policies, and one of the many reasons why multipliers estimated using historical episodes might not apply in the present circumstances.
(7) Although some economists argue that the German government has opted for a more Keynesian fiscal and economic policy during the recent economic recession, this antirecession
programme is limited in scope and duration and is neither sufficient to support long-term growth driven by domestic demand nor capable of altering the export-led foundations of the German economy.