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A St.-Louis equation to reassess the influence of macroeconomic-policy instruments

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  • Belliveau, Stefan

Abstract

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.

Suggested Citation

  • Belliveau, Stefan, 2011. "A St.-Louis equation to reassess the influence of macroeconomic-policy instruments," MPRA Paper 28771, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:28771
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    File URL: https://mpra.ub.uni-muenchen.de/28839/1/MPRA_paper_28839.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Jerry L. Jordan, 1986. "The Andersen-Jordan approach after nearly 20 years," Review, Federal Reserve Bank of St. Louis, issue Oct, pages 5-8.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Business cycles; monetary policy; fiscal policy;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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