Demand management: an illustrative example
AbstractThis paper presents a simple coherent general equilibrium example in which optimal provision of a public good implies counter-cyclical government expenditure.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 46.
Date of creation: 1979
Date of revision:
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- Sargent, Thomas J. & Wallace, Neil, 1976.
"Rational expectations and the theory of economic policy,"
Journal of Monetary Economics,
Elsevier, vol. 2(2), pages 169-183, April.
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- John Bryant, 1979. "The political economy of overlapping generations," Staff Report 43, Federal Reserve Bank of Minneapolis.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Bryant, John, 1978. "An Annotation of "Implicit Contracts and Underemployment Equilibria."," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 1159-60, December.
- Azariadis, Costas, 1975. "Implicit Contracts and Underemployment Equilibria," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1183-1202, December.
- John Bryant & Neil Wallace, 1979. "Monetary policy in the presence of a stochastic deficit," Staff Report 42, Federal Reserve Bank of Minneapolis.
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