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- Golden_Rule_(fiscal_policy) abstract "The Golden Rule is a guideline for the operation of fiscal policy. The Golden Rule states that over the economic cycle, the Government will borrow only to invest and not to fund current spending. In layman's terms this means that on average over the ups and downs of an economic cycle the government should only borrow to pay for investment that benefits future generations. Day-to-day spending that benefits today's taxpayers should be paid for with today's taxes, not with leveraged investment. Therefore, over the cycle the current budget (i.e., net of investment) must balance or be brought into surplus.The core of the 'golden rule' framework is that, as a general rule, policy should be designed to maintain a stable allocation of public sector resources over the course of the business cycle. Stability is defined in terms of the following ratios: The ratio of public sector net worth to national income The ratio of public current expenditure to national income The ratio of public sector income to national income.If national income is growing, and net worth is positive this rule implies that, on average, there should be net surplus of income over expenditure.The justification for the Golden Rule derives from macroeconomic theory. Other things being equal, an increase in government borrowing raises the real interest rate consequently crowding out (reducing) investment because a higher rate of return is required for investment to be profitable. Unless the government uses the borrowed funds to invest in projects with a similar rate of return to private investment, capital accumulation falls, with negative consequences upon economic growth.".
- Golden_Rule_(fiscal_policy) wikiPageExternalLink fiscal_policy.htm.
- Golden_Rule_(fiscal_policy) wikiPageID "1739547".
- Golden_Rule_(fiscal_policy) wikiPageLength "5156".
- Golden_Rule_(fiscal_policy) wikiPageOutDegree "17".
- Golden_Rule_(fiscal_policy) wikiPageRevisionID "696141383".
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Balanced_budget_amendment.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Business_cycle.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Capital_accumulation.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Category:Fiscal_policy.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Constitution_of_France.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Crowding_out_(economics).
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Current_account.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Current_budget.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Economic_growth.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Fiscal_policy.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Interest_rate.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Investment.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Macroeconomics.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Measures_of_national_income_and_output.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Rate_of_return.
- Golden_Rule_(fiscal_policy) wikiPageWikiLink Sustainable_investment_rule.
- Golden_Rule_(fiscal_policy) wikiPageWikiLinkText "Golden Rule (fiscal policy)".
- Golden_Rule_(fiscal_policy) wikiPageWikiLinkText "Golden Rule".
- Golden_Rule_(fiscal_policy) wikiPageWikiLinkText "fiscal policy rule".
- Golden_Rule_(fiscal_policy) wikiPageWikiLinkText "golden rule".
- Golden_Rule_(fiscal_policy) wikiPageUsesTemplate Template:Original_research.
- Golden_Rule_(fiscal_policy) wikiPageUsesTemplate Template:Use_dmy_dates.
- Golden_Rule_(fiscal_policy) subject Category:Fiscal_policy.
- Golden_Rule_(fiscal_policy) hypernym Guideline.
- Golden_Rule_(fiscal_policy) comment "The Golden Rule is a guideline for the operation of fiscal policy. The Golden Rule states that over the economic cycle, the Government will borrow only to invest and not to fund current spending. In layman's terms this means that on average over the ups and downs of an economic cycle the government should only borrow to pay for investment that benefits future generations. Day-to-day spending that benefits today's taxpayers should be paid for with today's taxes, not with leveraged investment.".
- Golden_Rule_(fiscal_policy) label "Golden Rule (fiscal policy)".
- Golden_Rule_(fiscal_policy) sameAs Q2690613.
- Golden_Rule_(fiscal_policy) sameAs Gulden_financieringsregel.
- Golden_Rule_(fiscal_policy) sameAs Złota_reguła_(finanse_publiczne).
- Golden_Rule_(fiscal_policy) sameAs m.05s95g.
- Golden_Rule_(fiscal_policy) sameAs Regula_de_aur_a_politicii_fiscale.
- Golden_Rule_(fiscal_policy) sameAs Q2690613.
- Golden_Rule_(fiscal_policy) wasDerivedFrom Golden_Rule_(fiscal_policy)?oldid=696141383.
- Golden_Rule_(fiscal_policy) isPrimaryTopicOf Golden_Rule_(fiscal_policy).