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O circuito finance-investimento-poupança-funding na economia aberta e com o governo

Author

Listed:
  • Douglas Alcântara Alencar

    (Cedeplar-UFMG)

  • Marco Flávio Cunha Resende

    (Cedeplar-UFMG)

  • Lúcio Otávio Seixas Barbosa

    (Cedeplar-UFMG)

  • Gustavo Figueiredo Campolina Diniz

    (Cedeplar-UFMG)

Abstract

Keynes explained the Finance-Investment-Saving-Funding (FISF) circuit assuming a closed economy without government. Lately, Resende (2008) and Arestis and Resende (2015) expand the above circuit opening the economy, nonetheless without government. This paper novelty is to analyse the FISF circuit in an open economy context including government. Moreover, we studied the fiscal policy effects on aggregate demand. It is argued that when the economy is operating with current account surplus and under full capacity, expansionary fiscal policy stimulates aggregate income. Conclusions highlight the validity of the FISF circuit in an open economy context including government.

Suggested Citation

  • Douglas Alcântara Alencar & Marco Flávio Cunha Resende & Lúcio Otávio Seixas Barbosa & Gustavo Figueiredo Campolina Diniz, 2015. "O circuito finance-investimento-poupança-funding na economia aberta e com o governo," Textos para Discussão Cedeplar-UFMG 531, Cedeplar, Universidade Federal de Minas Gerais.
    • Handle: RePEc:cdp:texdis:td531
    as

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    File URL: https://www.cedeplar.ufmg.br/pesquisas/td/TD%20531.pdf
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    References listed on IDEAS

    as
    1. Paul Davidson, 1986. "Finance, Funding, Saving, and Investment," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 9(1), pages 101-110, September.
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    More about this item

    Keywords

    Finance-Investment-Savings-Funding; open economy; government.;
    All these keywords.

    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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