Fiscal Spending and National Income with Imperfect Competition
In this paper, the authors examine fiscal policy effectiveness under oligopolistic competition and increasing returns to scale. Their results indicate that fiscal policy is always contractionary in a classical, full-employment economy. Similarly, fiscal policy can reduce national income in a Keynesian, unemployment model. Hence, fiscal policy may not be effective in promoting national income. Copyright 1996 by Blackwell Publishers Ltd and The Victoria University of Manchester
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Volume (Year): 64 (1996)
Issue (Month): 4 (December)
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