Long-Run Effects of Fiscal and Monetary Policy in IS-LM Analysis(1)
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概要
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Since 1937 we have had a lot of works about the fiscal and monetary policy in macroeconomic IS-LM analysis. Many controversies between Keynesians and monetarists had an interest in that problem. In those controversies the stock equilibirium started to be discussed as same as the flow equilibirum. Keynesians and monetarists discussed about not only the short-run equilibrium but also the long-run equilibrium. C.F. Christ worte his macroeconomic model with a government budget restraint in 1968. Since then we have had many macroeconomic models with a government budget equation. On this paper we will study a macroeconomic IS-LM model with a government budget restraint and the equilibrium of three markets, product market, money market and labor market.
- 大阪府立大学の論文
- 1981-03-31
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