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The Efficacy of Bond-Financed Fiscal Policy

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  • Yeung-Nan Shieh

    (University of Dallas)

Abstract

The purpose of this article is to reexamine two important propositions in the familiar rock bottom model. By using simple and more straightforward comparative static and dynamic analyses, the following statements can be made: (1) if capital stock is constant and the system is stable, bond-financed deficits are more expansionary than money-financed deficits and (2) if capital stock is not constant, (1 - T' - T'F B )

Suggested Citation

  • Yeung-Nan Shieh, 1982. "The Efficacy of Bond-Financed Fiscal Policy," Public Finance Review, , vol. 10(1), pages 119-125, January.
    • Handle: RePEc:sae:pubfin:v:10:y:1982:i:1:p:119-125
    DOI: 10.1177/109114218201000107
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    References listed on IDEAS

    as
    1. Infante, Ettore F. & Stein, Jerome L., 1976. "Does fiscal policy matter?," Journal of Monetary Economics, Elsevier, vol. 2(4), pages 473-500, November.
    2. Blinder, Alan S & Solow, Robert M, 1977. "Does Fiscal Policy Matter? The View from the Government Budget Restraint-A Reply," Public Finance = Finances publiques, , vol. 32(3), pages 390-392.
    3. James R. Barth & James T. Bennett & Manuel H. Johnson & Richard H. Sines, 1980. "The Efficacy of Bond-Financed Fiscal Policy," Public Finance Review, , vol. 8(3), pages 323-344, July.
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