Modern perspectives on stabilization policies

The present paper describes recent research on two central themes of Keynes’ General Theory: (i) the social waste associated with recessions, and (ii) the effectiveness of fiscal policy as a stabilization tool. The paper also discusses some evidence on the extent to which fiscal policy has been used as a stabilizing tool in industrial economies over the past two decades.

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Year of publication:	2004-10
Authors:	Galí, Jordi
Institutions:	Department of Economics and Business, Universitat Pompeu Fabra
Subject:	business cycles \| inefficient allocations \| government spending multiplier \| non-Ricardian households \| countercyclical policies

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Extent:	application/pdf
Series:	Economics Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Classification:	E32 - Business Fluctuations; Cycles ; E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005772004