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Money Demand and the Effects of Fiscal Policies

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Author Info
Mankiw, N Gregory
Summers, Lawrence H

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Abstract

This paper reexamines the choice of the scale variable in the money-demand function. A variety of evidence suggests that consumer spending is a better scale variable than GNP. Changing the money- demand specification along these lines can profoundly affect the standard Keynesian analysis of a tax cut. Copyright 1986 by Ohio State University Press.

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File URL: http://links.jstor.org/sici?sici=0022-2879%28198611%2918%3A4%3C415%3AMDATEO%3E2.0.CO%3B2-I&origin=bc
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Publisher Info
Article provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.

Volume (Year): 18 (1986)
Issue (Month): 4 (November)
Pages: 415-29
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:mcb:jmoncb:v:18:y:1986:i:4:p:415-29

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879

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This page was last updated on 2009-11-12.


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