Aggregate demand, functional finance, and secular stagnation
نویسندگان
چکیده
منابع مشابه
Aggregate Demand, Functional Finance and Secular Stagnation
This paper makes three main points. Fiscal policy, rst, may be needed in the long run to maintain full employment and avoid secular stagnation. If scal policy is used in this way, second, the long-run debt ratio depends (i) inversely on the rate of growth, (ii) inversely on government consumption, and (iii) directly on the degree of inequality. The analysis, third, suggests that policies and ...
متن کاملDEPARTMENT OF ECONOMICS Working Paper Aggregate Demand , Functional Finance and Secular Stagnation
This paper makes three main points. Fiscal policy, rst, may be needed in the long run to maintain full employment and avoid secular stagnation. If scal policy is used in this way, second, the long-run debt ratio depends (i) inversely on the rate of growth, (ii) inversely on government consumption, and (iii) directly on the degree of inequality. The analysis, third, suggests that policies and ...
متن کاملLaboratory for Aggregate Economics and Finance Associate Director's Message Laboratory for Aggregate Economics and Finance
Before describing the contents of this issue, let me say that we are very pleased to have established relationships with the Tepper School of Business at Carnegie Mellon University and the Southwest Search and Matching Group. These relationships allow us to have ongoing agendas as they will meet regularly throughout the years to come. The conferences we have with the Tepper School of Business a...
متن کاملCriticisms of Aggregate Demand and Aggregate Supply :
The Aggregate Demand – Aggregate Supply framework has dominated intermediate macroeconomics textbooks since the 1980s. However, there have been 2007). In spite of these criticisms, the ADAS framework had continued to dominate the textbooks, with little or no response to these criticisms. This paper reviews the main criticisms of the ADAS framework, and then focuses on Gregory Mankiw's presentat...
متن کاملOn secular stagnation and low interest rates: demography matters
Nominal and real interest rates in advanced economies have been decreasing since the mid-1980s and reached historical low levels in the aftermath of the global financial crisis. Understanding why interest rates have fallen is essential for both monetary policy and financial stability. This paper focuses on one of the factors that have been put forward in the literature within the secular stagna...
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ژورنال
عنوان ژورنال: European Journal of Economics and Economic Policies: Intervention
سال: 2016
ISSN: 2052-7764,2052-7772
DOI: 10.4337/ejeep.2016.02.03