A reconsideration of the balanced budget multiplier |
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Authors: | David Currie Eliakim Katz |
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Institution: | 1. Queen Mary College University of London, UK;2. Bar Ilan University, Israel |
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Abstract: | This paper examines the effect of balanced budget fiscal policy within a model which explicitly incorporates the asset adjustment view of income determination. In this context it is demonstrated that, in the absence of supply constraints, the balanced budget multiplier has continuing validity, though the size of the multiplier depends on the particular nature of the government expenditure in question. |
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