Title
From Keynes to Solow to optimal growth: An encompassing model of monetary and fiscal policy
Abbreviated Journal Title
J. Econ. Behav. Organ.
Keywords
Growth; Out-of-equilibrium; Monetary and fiscal policy; Revealed social; preference; EQUILIBRIUM; Economics
Abstract
A dynamic, out-of-equilibrium model of aggregate demand and supply is specified. The existence of, and convergence to, a macroeconomic equilibrium is derived, and the existence of a supporting revealed social utility function is established. Empirical estimates for three recent historical 'eras' suggest the model's explanatory power is impressive. Implications for possible policy repercussions include striking shifts in effect. (C) 2009 Elsevier B.V. All rights reserved.
Journal Title
Journal of Economic Behavior & Organization
Volume
72
Issue/Number
2
Publication Date
1-1-2009
Document Type
Article
Language
English
First Page
780
Last Page
795
WOS Identifier
ISSN
0167-2681
Recommended Citation
"From Keynes to Solow to optimal growth: An encompassing model of monetary and fiscal policy" (2009). Faculty Bibliography 2000s. 1459.
https://stars.library.ucf.edu/facultybib2000/1459
Comments
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