Regan vs Clinton's Government

In: Other Topics

Submitted By nitimaa
Words 1939
Pages 8
B.A. Honors in Economics (2nd Year)

Term Paper:
Fiscal Policy & Monetary Policy under Republican
& Democratic Government in US

Submitted to: Prof. Ganesh Manjhi

Submitted By: Simran Jain, Manika Agarwal, Namisha
Mehra & Nitima Mehra
Abstract:
This study has been put forward to compare the effects of Fiscal and monetary policy on GDP under Republican & Democratic Government in US. Estimated the data yearly from 1981-1989 (Ronald Reagan Republican Government) & from 1993-2001 (bill Clinton Democratic Government). Although considerable variations exist in the results, overall the generalized impulse response functions suggest that there is comparison between the policies of both type of government .And thus to check who had better monetary and fiscal policies.

Acknowledgement:
We would like to thank Prof. Ganesh Manjhi for his guidance and support throughout the course of term paper.

1. INTRODUCTION
Ronal Reagan was US president from January 20, 1981 – January 20, 1989 which was the republican regime. He was the first conservative President in more than 50 years. His philosophy was “government is not the solution to our problem, government is the problem.. Reagan further removed controls on oil and gas, long distance phone service, as well as interstate bus service and ocean shipping. He promised to reduce government spending and regulations. But
Reagan did not reduce other government programs. He expanded Medicare, and increased the payroll tax to insure the solvency of Social security.
Bill Clinton was US president from 1993 – 2001 which was a democratic regime. Clinton oversaw a period of considerable economic growth and expansion during his tenure. His macroeconomic policies can best be looked at through categories like gross domestic product, inflation rates and unemployment rates. He, unlike most other post-war Democrats…...

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