The Keynesian multiplier and the Pigou effect under substitution between private and public consumption

In this paper we present a fixprice model in which private and public consumption show some degree of substitution. We offer formulae for the Keynesian multiplier which depend on this degree of substitution. We also show that there is a Pigou effect and that, sometimes, this effect is larger than the Keynesian multiplier.

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Year of publication:	2010
Authors:	Corchón, Luis Carlos
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 30.2010, 1, p. 829-836
Publisher:	AccessEcon
Subject:	Keynes \| Multiplier \| Unemployment \| Pigou

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	E1 - General Aggregative Models ; J2 - Time Allocation; Work Behavior; Employment Determination and Creation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008540648