IS-LM stability and economic policy effectiveness: Further observations |
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Authors: | Richard J Cebula |
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Institution: | Emory University, USA |
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Abstract: | Professor Wang (1980) has usefully extended my original model by introducing an explicit government budget constraint. However, the form of that budget constraint is very restrictive and limited. In this note, an alternative budget constraint to Wang's is developed. This permits the model and policy analysis to be significantly extended and generalized. |
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