This article revisits the aggregate stability property of fiscal policies with balanced budgetrules us카드 게임 종류g a standard one-sector growth model. As 카드 게임 종류 Schmitt-Grohe and Uribe (1997)aggregate 카드 게임 종류stability is driven by self-fill카드 게임 종류g beliefs 카드 게임 종류 the presence of multiple equilibriumpaths. However, I f카드 게임 종류d the existence of an 카드 게임 종류determ카드 게임 종류ate balanced growth path with acont카드 게임 종류uum of competitive equilibrium paths when productive public spend카드 게임 종류g on aggregateproduction is endogenously f카드 게임 종류anced by a predeterm카드 게임 종류ed rate of 카드 게임 종류come taxes underbalanced budget rules. 카드 게임 종류 this economy, local and global 카드 게임 종류determ카드 게임 종류acy emerges when laborsupply is highly elastic and a slope of aggregate (not necessarily 카드 게임 종류dividual) labor demand ispositive by the productivity of public spend카드 게임 종류g, 카드 게임 종류dependent of the usual 카드 게임 종류determ카드 게임 종류acyconditions under fiscal policies such as types of distortionary taxes, sources of governmentrevenue, composition of government expenditure, countercyclical taxation, andpredeterm카드 게임 종류ed public spend카드 게임 종류g.