Fiscal Policy Following the Great Recession: Purpose and Problem Statements

Fiscal Policy Following the Great Recession: Purpose and Problem Statements

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The Great Recession in the United States (U.S.) lasted from the end of 2007 to mid-2009 (Economic Policy Institute, n.d.). In response to the conditions within the economy as a result of the Great Recession, the U.S. government implemented various fiscal and monetary policies aimed at improving economic conditions in the U.S. (Blinder & Zandi, 2010). The long-term effects of the fiscal policies implemented in the wake of the Great Recession is the subject matter of a proposed research project.
This paper details the purpose and problem statements relative to the proposed research project. The paper is outlined as followed. First, the purpose statement relative to the proposed research study will be discussed. Secondly, the study problem statement will be reviewed. Once these statements have been considered, a summary of the statements and how they pertain to the proposed study will be examined.

The purpose of the proposed research project is to evaluate the long-term effects of the fiscal policies put into effect by the U.S. government in response to the Great Recession. Current research is limited to an evaluation of the estimated effects of the overall fiscal policy efforts through 2012 (e.g., Blinder & Zandi, 2010) and inconsistent responses relative to the specific fiscal policies implemented (e.g., Adkisson & Mohammed, 2014; Angelopoulos & Economides, 2007; Coen & Hickman, 1984; Karagianni, Pempetzoglou, & Saraidaris, 2012; Kneller, Bleaney, & Gemmell, 1999; Kumhof, Laxton, & Leigh, 2013; Lee & Gordon, 2005; Miron, 2010; Ojede & Yamarik, 2012). The project is expected to contribute to expanding the current literature by considering the general and specific fiscal policy effects over a longer period of time and att...


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...ture and economic growth. Journal of Public Economics, 89(5-6), 1027-1043. http://dx.doi.org/10.1016/j.jpubeco.2004.07.002

Miron, J. (2010). The case against the fiscal stimulus. Harvard Journal of Law and Public Policy, 33(2), 519-529. Retrieved from
http://search.proquest.com.proxy1.ncu.edu/docview/347581655?accountid=28180

Ojede, A., & Yamarik, S. (2012). Tax policy and state economic growth: The long-run and short-run of it. Economic Letters, 116(2), 161-165. http://dx.doi.org/10.1016/j.econlet.2012.02.023

Pollock, A. J. (2011). Boom and bust: Financial cycles and human prosperity. Washington, DC: AEI Press.

U.S. Bureau of Labor Statistics (BLS). (2012). The recession of 2007–2009. Retrieved from http://www.bls.gov/spotlight/2012/recession/

United States Census Bureau. (n.d.). U.S. and world population clock. Retrieved from http://www.census.gov/popclock/

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