Title

From Keynes To Solow To Optimal Growth: An Encompassing Model Of Monetary And Fiscal Policy

Keywords

Growth; Monetary and fiscal policy; Out-of-equilibrium; Revealed social preference

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. © 2009 Elsevier B.V. All rights reserved.

Publication Date

11-1-2009

Publication Title

Journal of Economic Behavior and Organization

Volume

72

Issue

2

Number of Pages

780-795

Document Type

Article

Personal Identifier

scopus

DOI Link

https://doi.org/10.1016/j.jebo.2009.08.004

Socpus ID

70350401896 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/70350401896

This document is currently not available here.

Share

COinS