A St.-Louis equation to reassess the influence of macroeconomic-policy instruments
An analysis of the impact from stabilizing instruments important to macroeconomic policy on output in the US is presented. A simple approach to identify the influence of macroeconomic-policy instruments, based on the St. Louis equation, is clearly presented and examined using annual US data from 1956-2007. The conclusion from this analysis is that both monetary and fiscal policy are viable options for policymakers seeking to stabilize output.
|Date of creation:||08 Feb 2011|
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- Jerry L. Jordan, 1986. "The Andersen-Jordan approach after nearly 20 years," Review, Federal Reserve Bank of St. Louis, issue Oct, pages 5-8.
- Leonall C. Andersen & Jerry L. Jordan, 1968. "Monetary and fiscal actions: a test of their relative importance in economic stabilization," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 11-23.
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