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| Author: | Baxter, M. King, R.G. |
| Title: | Fiscal policy in general equilibrium. |
| Journal: | American Economic Review
1993 : JUN, VOL 83:3, p. 315-334 |
| Index terms: | FISCAL POLICY PUBLIC EXPENDITURE EQUILIBRIUM ANALYSIS NEO-CLASSICAL ECONOMICS |
| Language: | eng |
| Abstract: | Permanent changes in government purchases can lead to short-run and long-run output multipliers that exceed one. Permanent changes in government purchases induce larger effects than temporary changes. The financing decision is quantitatively more important than the resource cost of changes in government purchases. Public investment has dramatic effects on private output and investment. These findings stem from important dynamic interactions of capital and labor absent in earlier equilibrium analyses of fiscal policy. |
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