How little we know about budget policy effects
Using a simple model, we show why previous empirical studies of budget policy effects are flawed. Due to an identification problem, those studies’ findings can be shown to be consistent with either policies mattering or not.
|Date of creation:||1989|
|Date of revision:|
|Publication status:||Published in Quarterly Review (Vol 16, Num 1, Winter 1992, pp. 2-11)|
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