If governments followed the optimal Fiscal policy path, surpluses in good times would counter necessary Deficits during economic downturns, leading to worldwide balance.
When financial crises kicked off a global recession in 2008, the spotlight placed on countries\' Fiscal conditions put pressure on policymakers around the globe to find a way to slow th.
The world, however, has chosen to go in a different direction in recent decades, avoiding thrift in light of a decidedly more indebted future.
If governments followed the optimal Fiscal policy path, surpluses in good times would counter necessary Deficits during economic downturns, leading to worldwide balance