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The Balanced-Budget Multiplier: A Suggestion for A More General Formulation

The Review of Economics and Statistics 1957 39(2), 225
$20,000 there has been only a moderate loss, with the group from $io,ooo to $20,000 gaining as much relatively as the group from $5,000 to $Io,000. Some evidence has also been presented indicating that people in the income range from $5,000 to $I4,000 would have received from I4 to i8 per cent more income in I949 had their income-determining characteristics been valued as highly in I949 as they were in I929, but that such quantitative statements could not be made for people in groups outside this range because they would have come from diverse income classes.