Tervala, Juha (contributor) - 2004 - [Elektronische Ressource]
public consumption. I show
that the introduction of useful government spending induces both a bigger crowding-out
effect on ….
Keywords: Fiscal policy, direct crowding-out, new open economy macroeconomics
JEL classification: E62, F41, H4 … direct crowding-out effect on private consumption. The idea of
3
viewing public consumption as substitute for private …