Productivity Growth and Countercyclical Budgetary Policy: What Do We Learn from OECD Panel Data? Philippe Aghion, June 2008, Paper. "A common view among macroeconomists is that there is a decoupling between macroeconomic policy (e.g., budget deficit, taxation, money supply), which should primarily affect price and income stability and long-run economic growth, which, if anything, should depend only upon structural characteristics of the economy (property right enforcement, market structure, market mobility, and so forth). That macroeconomic policy should not be a key determinant of growth..." Link