Full employment deficit/Definition: Difference between revisions
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A term denoting the [[budget deficit]] that would have existed if the economy had been at [[full employment]]: estimated by excluding recession-induced increases in [[public expenditure]] and reductions in revenues from [[taxation]], that is synonymous with the term [[cyclically-adjusted deficit]], and with one of the interpretations of the term [[structural deficit]]. | A term denoting the [[budget deficit]] that would have existed if the economy had been at [[full employment]]: estimated by excluding [[recession]]-induced increases in [[public expenditure]] and reductions in revenues from [[taxation]], that is synonymous with the term [[cyclically-adjusted budget deficit]], and with one of the interpretations of the term [[structural deficit]]. | ||
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Full employment deficit [r]: A term denoting the budget deficit that would have existed if the economy had been at full employment: estimated by excluding recession-induced increases in public expenditure and reductions in revenues from taxation, that is synonymous with the term cyclically-adjusted budget deficit, and with one of the interpretations of the term structural deficit.