The Limits to Discretionary Fiscal Stabilization Policy.
The use of discretionary fiscal policy as a counter-cyclical tool has declined in popularity over the last 30 years. This paper examines the extent to which this decline is justified in terms of developments in macroeconomic theory over this period. Both a small calibrated model and a larger econome...
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| Format: | Journal article |
| Language: | English |
| Published: |
2000
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