1546:, on the other hand, is a measure to increase tax rates and decrease government spending. It occurs when government deficit spending is lower than usual. This has the potential to slow economic growth if inflation, which was caused by a significant increase in aggregate demand and the supply of money, is excessive. By reducing the economy's amount of aggregate income, the available amount for consumers to spend is also reduced. So, contractionary fiscal policy measures are employed when unsustainable growth takes place, leading to inflation, high prices of investment, recession and unemployment above the "healthy" level of 3%–4%.
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get the economy out of the recession. When a deep recession takes place, it is not sufficient to rely just on monetary policy to restore the economic equilibrium. Each side of these two policies has its differences, therefore, combining aspects of both policies to deal with economic problems has become a solution that is now used by the US. These policies have limited effects; however, fiscal policy seems to have a greater effect over the long-run period, while monetary policy tends to have a short-run success.
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Additionally, fiscal policy can potentially have more supply-side effects on the economy: to reduce inflation, the measures of increasing taxes and lowering spending would not be preferred, so the government might be reluctant to use these. Monetary policy is generally quicker to implement as interest rates can be set every month, while the decision to increase government spending might take time to figure out which area the money should be spent on.
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1540:. It involves government spending exceeding tax revenue by more than it has tended to, and is usually undertaken during recessions. Examples of expansionary fiscal policy measures include increased government spending on public works (e.g., building schools) and providing the residents of the economy with tax cuts to increase their purchasing power (in order to fix a decrease in the demand).
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The concept of a fiscal straitjacket is a general economic principle that suggests strict constraints on government spending and public sector borrowing, to limit or regulate the budget deficit over a time period. Most US states have balanced budget rules that prevent them from running a deficit. The
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occurs when interest rate cuts are insufficient as a demand booster as banks do not want to lend and the consumers are reluctant to increase spending due to negative expectations for the economy. Government spending is responsible for creating the demand in the economy and can provide a kick-start to
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the debt. When governments fund a deficit with the issuing of government bonds, interest rates can increase across the market, because government borrowing creates higher demand for credit in the financial markets. This decreases aggregate demand for goods and services, either partially or entirely
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cause cyclic fluctuations of tax revenues and of some types of government spending, altering the deficit situation; these are not considered to be policy changes. Therefore, for purposes of the above definitions, "government spending" and "tax revenue" are normally replaced by "cyclically adjusted
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Some economists are concerned about potential inflationary effects driven by increased demand engendered by a fiscal stimulus. In theory, fiscal stimulus does not cause inflation when it uses resources that would have otherwise been idle. For instance, if a fiscal stimulus employs a worker who
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issued from a country executing expansionary fiscal policy now offer a higher rate of return. In other words, companies wanting to finance projects must compete with their government for capital so they offer higher rates of return. To purchase bonds originating from a certain country, foreign
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but can also be funded by issuing equity. Bonds pay interest, either for a fixed period or indefinitely that is funded by taxpayers as a whole. Equity offers returns on investment (interest) that can only be realized in discharging a future tax liability by an individual taxpayer. If available
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Since the 1970s, it became clear that monetary policy performance has some benefits over fiscal policy due to the fact that it reduces political influence, as it is set by the central bank (to have an expanding economy before the general election, politicians might cut the interest rates).
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to advance its economic objectives. The combination of these policies enables these authorities to target inflation and to increase employment. In modern economies, inflation is conventionally considered "healthy" in the range of 2%–3%. Additionally, it is designed to try to keep
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view, expansionary fiscal policy also decreases net exports, which has a mitigating effect on national output and income. When government borrowing increases interest rates it attracts foreign capital from foreign investors. This is because, all other things being equal, the
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refers to the government borrowing from the public. It is impossible for a government to "default" on its equity since the total returns available to all investors (taxpayers) are limited at any point by the total current year tax liability of all investors.
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government spending" and "cyclically adjusted tax revenue". Thus, for example, a government budget that is balanced over the course of the business cycle is considered to represent a neutral and effective fiscal policy stance.
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Depending on the state of the economy, fiscal policy may reach for different objectives: its focus can be to restrict economic growth by mediating inflation or, in turn, increase economic growth by decreasing
1818:, stimulate it, while decreasing spending and increasing taxes after the economic expansion has already taken place. Additionally, Keynesians argue that expansionary fiscal policy should be used in times of
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that may offset the stimulative impact of spending. When the government runs a budget deficit, funds will need to come from public borrowing (the issue of government bonds), overseas borrowing, or
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increases. The increased demand, in turn, causes the currency to appreciate, reducing the cost of imports and making exports from that country more expensive to foreigners. Consequently,
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should be avoided." In 2011, a follow-up survey of 568 AEA members found that the previous consensus about the latter proposition had dissolved and was by then roughly evenly disputed.
1680:, but it is not a meaningful constraint because the cap can be raised as easily as spending can be authorized, and the cap is almost always raised before the debt gets that high.
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1503:, encouraging spending on different projects that act as stimuli to economic growth and enabling borrowing and spending. The three stances of fiscal policy are the following:
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is another way of understanding the effects of fiscal expansion. As the government increases spending, there will be a shift in the IS curve up and to the right. In the
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between the time of implementation and the time that most of the effects of the stimulus are felt could mean that the stimulus hits an already-recovering economy and
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to the original full employment (FE) level. Therefore, the IS-LM model shows that there will be an overall increase in the price level and real interest rates in the
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offsetting the direct expansionary impact of the deficit spending, thus diminishing or eliminating the achievement of the objective of a fiscal stimulus.
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Keynesian theory posits that removing spending from the economy will reduce levels of aggregate demand and contract the economy, thus stabilizing prices.
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Larch, M. and J. Nogueira
Martins (2009). Fiscal Policy Making in the European Union: An Assessment of Current Practice and Challenges. Routledge.
1971:(the time lag involved in implementing it), which is almost inevitably long because of the substantial legislative effort involved. Further, the
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view of economics suggests that increasing government spending and decreasing the rate of taxes are the best ways to have an influence on
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Governments use fiscal policy to influence the level of aggregate demand in the economy, so that certain economic goals can be achieved:
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1526:) is roughly the same as it has been on average over time, so no changes to it are occurring that would have an effect on the level of
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and increases aggregate demand, placing upward pressure on supply. To meet the short-run increase in aggregate demand, firms increase
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economists generally emphasize crowding out while
Keynesians argue that fiscal policy can still be effective, especially in a
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The IS curve shifts to the right, increasing real interest rates (r) and expansion in the "real" economy (real GDP, or Y).
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or low economic activity as an essential tool for building the framework for strong economic growth and working towards
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Changes in the level and composition of taxation and government spending can affect macroeconomic variables, including:
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on a wide variety of things, from the military and police to services such as education and health care, as well as
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approach to economic management became unworkable. Fiscal policy is based on the theories of the
British economist
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Macek, R; Janků, J. (2015) "The Impact of Fiscal Policy on
Economic Growth Depending on Institutional Conditions"
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Heyne, P. T., Boettke, P. J., Prychitko, D. L. (2002). The
Economic Way of Thinking (10th ed). Prentice Hall.
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However, these definitions can be misleading because, even with no changes in spending or tax laws at all,
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A fiscal surplus is often saved for future use, and may be invested in either local currency or any
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of 4%–5%. This implies that fiscal policy is used to stabilise the economy over the course of the
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theorised that government changes in the levels of taxation and government spending influence
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The recession of the 2000s decade shows that monetary policy also has certain limitations. A
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government revenue is insufficient to support the interest payments on bonds, a nation may
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Fuller, Dan; Geide-Stevenson, Doris (Fall 2003). "Consensus Among
Economists: Revisited".
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that may be traded later once resources are needed and the additional debt is not needed.
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to influence a country's economy. The use of government revenue expenditures to influence
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Pettinger, T. (2017). "Difference between monetary and fiscal policy", EconomicsHelp.org
2366:, Working Papers Series wp800, William Davidson Institute at the University of Michigan.
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Use of government revenue collection and expenditure to influence a country's economy
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Simonsen, M.H. The
Econometrics and The State Brasilia University Editor, 1960–1964.
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1430:. Both fiscal and monetary policies influence a country's economic performance.
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is used by the government when trying to balance the contraction phase in the
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Fiscal Reform and its Firm-Level
Effects in Eastern Europe and Central Asia
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Amadeo, K. (2018). "Fiscal Policy Types, Objectives, and Tools", Dotdash
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into the country undergoing fiscal expansion, demand for that country's
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investors must obtain that country's currency. Therefore, when foreign
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Procyclical and countercyclical variables § Economic policy making
2117:. Upper Saddle River, New Jersey: Pearson Prentice Hall. p. 387.
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Schmidt, M (2018). "A Look at Fiscal and
Monetary Policy", Dotdash
2359:(2003). The Economic Theory of Fiscal Policy, Volume 3. Routledge.
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economy", 71 percent also generally agreed with the statement "
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National fiscal policy response to the late 2000s recession
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are the key strategies used by a country's government and
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Acemoglu, Daron; David I. Laibson; John A. List (2018).
1983:
rather than stimulating the economy when it needs it.
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Gross fixed capital formation § Economic analysis
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is usually undertaken when an economy is in neither a
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Kramer, L. (2019). "What Is Fiscal Policy?", Dotdash
1678:
legal cap on the total amount of money it can borrow
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1718:. Unsourced material may be challenged and removed.
1676:United States federal government technically has a
1372:growth at 2%–3% and the unemployment rate near the
2043:Interaction between monetary and fiscal policies
2319:"Cliff Notes, Economic Effecs of Fiscal Policy"
2143:"Difference between monetary and fiscal policy"
1910:: whether government borrowing leads to higher
1891:to stabilise prices when inflation is too high.
1359:and the level of economic activity. Fiscal and
3553:
2443:
1288:
453:
8:
2369:D. Harries. Roger Fenton and the Crimean War
2240:Fuller, Dan; Geide-Stevenson, Doris (2014).
1927:where, they argue, crowding out is minimal.
1646:on its debts, usually to foreign creditors.
1629:A fiscal deficit is often funded by issuing
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1888:to slow the pace of strong economic growth;
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2428:
1295:
1281:
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29:
1778:Learn how and when to remove this message
1426:and is often administered by a country's
2242:"Consensus Among Economists – An Update"
1832:
1600:money from the population or from abroad
1456:In 2000, a survey of 298 members of the
1414:Fiscal policy can be distinguished from
2075:
1339:variables developed in reaction to the
483:
32:
2289:(Second ed.). New York: Pearson.
2170:"A Look at Fiscal and Monetary Policy"
1967:use of fiscal stimulus because of the
605:Measures of national income and output
7:
1716:adding citations to reliable sources
2527:Agent-based computational economics
2028:Fiscal policy of the United States
1902:still debate the effectiveness of
1861:output. The increase in short-run
1575:benefits. This expenditure can be
1552:cyclic fluctuations of the economy
1390:and the level of economic activity
319:Trade / commerce ministry
25:
2247:The Journal of Economic Education
2198:The Journal of Economic Education
1906:. The argument mostly centers on
2985:neoclassical–Keynesian synthesis
1692:
1620:Selling equity to the population
1559:Methods of fiscal policy funding
1522:(the excess not financed by tax
1343:of the 1930s, when the previous
1262:
1250:
491:
428:
2115:Economics: Principles in Action
1956:increase, reducing demand from
1703:needs additional citations for
1579:in a number of different ways:
2113:; Sheffrin, Steven M. (2003).
1462:significant stimulative impact
1210:Publications in macroeconomics
1:
2921:Critique of political economy
1458:American Economic Association
2264:10.1080/00220485.2014.889963
1659:Dipping into prior surpluses
1603:Dipping into fiscal reserves
1591:, the benefit from printing
1544:Contractionary fiscal policy
1963:Some economists oppose the
1518:. The amount of government
3886:
3059:Real business-cycle theory
1999:remains fixed, leading to
1987:otherwise would have been
1789:
1534:Expansionary fiscal policy
1491:
1437:
1434:Monetary or fiscal policy?
961:New neoclassical synthesis
944:Real business-cycle theory
148:Deficit / surplus
3499:
2409:Resources in your library
2211:10.1080/00220480309595230
1877:due to fiscal expansion.
1374:natural unemployment rate
249:Monetary (currency) union
3849:Public policy by country
2419:Fiscal Policy topic page
2362:Anderson, J. E. (2005).
2085:"What Is Fiscal Policy?"
966:Saltwater and freshwater
2699:Industrial organization
2522:Computational economics
2423:Encyclopædia Britannica
1408:allocation of resources
894:International economics
819:Overlapping generations
3819:Public policy doctrine
2904:Modern monetary theory
2569:Experimental economics
2539:Pluralism in economics
2512:Mathematical economics
1880:Governments can use a
1838:
1482:activist fiscal policy
1476:should be left to the
1440:Monetary/fiscal debate
1237:Mathematical economics
988:Modern monetary theory
751:Universal basic income
360:Discretionary spending
3809:Public administration
3804:Evidence-based policy
1853:, which then reduces
1849:, this increases the
1836:
1639:gilt-edged securities
1508:Neutral fiscal policy
1077:Wesley Clair Mitchell
1052:Thomas Robert Malthus
889:Development economics
3824:Public policy school
2778:Social choice theory
2534:Behavioral economics
2517:Complexity economics
2256:Taylor & Francis
2149:. Economics.Help.org
1712:improve this article
1665:financial instrument
814:Ramsey–Cass–Koopmans
654:Liquidity preference
2862:American (National)
2562:Economic statistics
2141:Pettinger, Tejvan.
1884:to do two things:
1671:Fiscal straitjacket
1403:income distribution
1353:Keynesian economics
1349:John Maynard Keynes
1269:Business portal
1205:Macroeconomic model
1082:John Maynard Keynes
879:Economic statistics
824:General equilibrium
2168:Schmidt, Michael.
2147:Economics.Help.org
2111:O'Sullivan, Arthur
2038:Functional finance
1855:private investment
1851:real interest rate
1839:
1321:government revenue
1157:Edward C. Prescott
884:Monetary economics
365:Mandatory spending
289:Non-tariff barrier
227:Monetary authority
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3066:New institutional
2395:Library resources
2325:on April 10, 2013
2296:978-0-13-449205-6
2124:978-0-13-063085-8
1788:
1787:
1780:
1762:
1569:transfer payments
1528:economic activity
1313:political science
1305:
1304:
1232:Political economy
1187:N. Gregory Mankiw
1177:Thomas J. Sargent
1022:Market monetarism
836:Endogenous growth
666:National accounts
470:
469:
411:Fiscal adjustment
16:(Redirected from
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3814:Public budgeting
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3691:Renewable energy
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2739:Natural resource
2574:Economic history
2500:Mechanism design
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2321:. Archived from
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2083:Kramer, Leslie.
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1816:aggregate demand
1806:Economic growth.
1803:Full employment;
1800:Price stability;
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1776:
1772:
1769:
1763:
1761:
1720:
1696:
1688:
1684:Economic effects
1520:deficit spending
1388:aggregate demand
1357:aggregate demand
1341:Great Depression
1297:
1290:
1283:
1267:
1266:
1257:Money portal
1255:
1254:
1253:
1167:William Nordhaus
1152:Robert Lucas Jr.
1042:François Quesnay
678:Nominal rigidity
649:Demand for money
627:Microfoundations
563:Financial crisis
543:Effective demand
513:Aggregate supply
508:Aggregate demand
495:
472:
462:
455:
448:
432:
284:Gains from trade
274:Balance of trade
153:Finance ministry
44:
30:
21:
3885:
3884:
3880:
3879:
3878:
3876:
3875:
3874:
3860:
3859:
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3853:
3829:Policy analysis
3792:
3571:
3566:
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3528:Business portal
3495:
3494:
3493:
3453:
3217:von Böhm-Bawerk
3105:
3104:
3095:
2867:Ancient thought
2845:
2844:
2838:
2829:
2828:
2827:
2578:
2543:
2495:Contract theory
2480:Decision theory
2461:
2456:
2415:
2414:
2413:
2403:
2402:
2398:
2391:
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2279:
2239:
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2177:
2167:
2166:
2162:
2152:
2150:
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2139:
2132:
2125:
2109:
2108:
2104:
2094:
2092:
2082:
2081:
2077:
2072:
2067:
2048:Monetary policy
2013:
2005:price inflation
1904:fiscal stimulus
1859:full-employment
1824:full employment
1794:
1784:
1773:
1767:
1764:
1727:"Fiscal policy"
1721:
1719:
1709:
1697:
1686:
1673:
1661:
1627:
1561:
1496:
1490:
1478:Federal Reserve
1464:on a less than
1442:
1436:
1416:monetary policy
1361:monetary policy
1301:
1261:
1251:
1249:
1242:
1241:
1200:
1192:
1191:
1172:Joseph Stiglitz
1132:Milton Friedman
1112:Friedrich Hayek
1037:
1027:
1026:
909:
899:
898:
869:
861:
860:
846:Mundell–Fleming
841:Matching theory
779:Keynesian cross
764:
756:
755:
726:
718:
717:
503:
466:
421:
420:
416:Monetary reform
406:
398:
397:
393:Price stability
388:Economic growth
383:Balanced budget
378:
370:
369:
350:Non-tax revenue
345:
344:
324:
323:
314:Trade diversion
269:
259:
258:
212:Discount window
195:
193:Monetary policy
185:
184:
119:
109:
108:
54:
28:
23:
22:
18:Fiscal policies
15:
12:
11:
5:
3883:
3881:
3873:
3872:
3862:
3861:
3855:
3854:
3852:
3851:
3846:
3844:Youth services
3841:
3836:
3834:Policy studies
3831:
3826:
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3723:
3720:Pharmaceutical
3711:
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3684:Nuclear energy
3675:
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3567:
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3119:
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3017:
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3007:
3006:
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2993:
2988:
2973:
2968:
2963:
2958:
2953:
2948:
2943:
2938:
2933:
2931:Disequilibrium
2928:
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2896:
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2800:
2795:
2790:
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2744:Organizational
2741:
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2696:
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2519:
2514:
2509:
2507:Macroeconomics
2504:
2503:
2502:
2497:
2492:
2487:
2482:
2475:Microeconomics
2471:
2469:
2463:
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2447:
2440:
2432:
2426:
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2412:
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2393:
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2390:
2389:External links
2387:
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2287:Macroeconomics
2277:
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2205:(4): 369–387.
2187:
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2020:
2014:
2012:
2009:
2003:and therefore
2001:wage inflation
1925:liquidity trap
1912:interest rates
1893:
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1882:budget surplus
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1635:Treasury bills
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1538:business cycle
1531:
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1474:business cycle
1466:fully employed
1450:liquidity trap
1438:Main article:
1435:
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1424:interest rates
1412:
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1378:business cycle
1319:is the use of
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1142:Lawrence Klein
1139:
1137:Paul Samuelson
1134:
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1099:
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1092:Michał Kalecki
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1012:Disequilibrium
1009:
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1000:Post-Keynesian
997:
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868:Related fields
867:
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794:Phillips curve
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644:Money creation
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600:Liquidity trap
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530:
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518:Business cycle
515:
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502:Basic concepts
501:
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488:
487:
485:Macroeconomics
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309:Trade creation
306:
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55:
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37:
36:
34:Public finance
26:
24:
14:
13:
10:
9:
6:
4:
3:
2:
3882:
3871:
3870:Fiscal policy
3868:
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3850:
3847:
3845:
3842:
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3837:
3835:
3832:
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3717:
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3710:
3707:
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3700:
3699:Environmental
3697:
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3688:
3685:
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3569:Public policy
3563:
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3223:
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3200:
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3138:
3135:
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3125:
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3113:
3112:de Mandeville
3110:
3109:
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3103:
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3082:
3079:
3077:
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3054:New classical
3052:
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3026:
3023:
3022:
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3018:
3016:
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3010:Malthusianism
3008:
3002:
2999:
2998:
2997:
2994:
2992:
2989:
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2971:Institutional
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2774:Public choice
2772:
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2749:Participation
2747:
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2709:Institutional
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2685:
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2677:
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2670:
2667:
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2659:Expeditionary
2657:
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2649:Environmental
2647:
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2640:
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2430:
2424:
2420:
2417:
2416:
2410:
2407:
2406:
2401:
2400:Fiscal policy
2396:
2388:
2383:
2380:
2377:
2374:
2371:
2368:
2365:
2361:
2358:
2355:
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2311:
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2148:
2144:
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1345:laissez-faire
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1162:Peter Diamond
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1147:Edmund Phelps
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1102:Simon Kuznets
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3797:Other topics
3622:
3583:Agricultural
3523:Publications
3479:Publications
3446:
3042:Neoclassical
3032:Mercantilism
2941:Evolutionary
2803:Sociological
2776: /
2674:Geographical
2654:Evolutionary
2629:Digitization
2594:Agricultural
2557:Econometrics
2485:Price theory
2399:
2357:Hansen, Bent
2342:Bibliography
2327:. Retrieved
2323:the original
2313:
2286:
2280:
2251:
2245:
2235:
2202:
2196:
2190:
2178:. Retrieved
2173:
2163:
2151:. Retrieved
2146:
2114:
2105:
2093:. Retrieved
2089:Investopedia
2088:
2078:
2033:Fiscal union
2018:Econometrics
1997:labor supply
1993:labor demand
1985:
1979:the ensuing
1962:
1929:
1921:Neoclassical
1908:crowding out
1897:
1894:
1879:
1867:money supply
1865:reduces the
1863:price levels
1840:
1809:
1795:
1774:
1765:
1755:
1748:
1741:
1734:
1722:
1710:Please help
1705:verification
1702:
1674:
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1628:
1611:fixed assets
1563:Governments
1562:
1549:
1543:
1533:
1507:
1497:
1455:
1447:
1443:
1428:central bank
1420:money supply
1413:
1382:
1365:central bank
1323:collection (
1316:
1306:
1182:Paul Krugman
1127:Hyman Minsky
1087:Alvin Hansen
971:
970:
911:
874:Econometrics
851:Overshooting
804:Harrod–Domar
799:Arrow–Debreu
746:Central bank
730:
713:Unemployment
703:Supply shock
661:Money supply
538:Disinflation
533:Demand shock
267:Trade policy
254:Money supply
232:central bank
205:requirements
158:Fiscal union
116:
93:
59:Agricultural
3740:Immigration
3727:Vaccination
3317:von Neumann
3086:Supply-side
3071:Physiocracy
3015:Marginalism
2704:Information
2644:Engineering
2624:Development
2619:Demographic
2490:Game theory
2467:Theoretical
2258:: 131–146.
2174:Invetopedia
1973:outside lag
1958:net exports
1871:equilibrium
1843:IS-LM model
1648:Public debt
1589:Seigniorage
1565:spend money
1333:expenditure
1062:Léon Walras
956:Supply-side
789:Accelerator
698:Stagflation
683:Price level
578:Demand-pull
355:Tax revenue
3839:Regulation
3780:Technology
3644:Investment
3637:Industrial
3474:Economists
3347:Schumacher
3252:Schumpeter
3222:von Wieser
3142:von Thünen
3102:Economists
3001:Circuitism
2966:Humanistic
2961:Historical
2936:Ecological
2926:Democratic
2899:Chartalism
2889:Behavioral
2852:Mainstream
2813:Statistics
2808:Solidarity
2729:Managerial
2694:Humanistic
2689:Historical
2634:Ecological
2599:Behavioral
2070:References
2063:Tax policy
2058:Policy mix
1989:unemployed
1969:inside lag
1916:monetizing
1900:economists
1790:See also:
1738:newspapers
1492:See also:
1470:Management
1398:investment
1117:John Hicks
1047:Adam Smith
1005:Circuitism
995:Ecological
983:Chartalism
934:Monetarism
912:Mainstream
809:Solow–Swan
784:Multiplier
741:Commercial
637:Endogenous
595:Investment
304:Trade bloc
279:Free trade
104:Policy mix
79:Investment
74:Industrial
3766:Stem cell
3745:Knowledge
3673:Education
3392:Greenspan
3357:Samuelson
3337:Galbraith
3307:Tinbergen
3247:von Mises
3242:Heckscher
3202:Edgeworth
3081:Stockholm
3076:Socialist
2976:Keynesian
2956:Happiness
2916:Classical
2877:Mutualism
2872:Anarchist
2857:Heterodox
2754:Personnel
2714:Knowledge
2679:Happiness
2669:Financial
2639:Education
2614:Democracy
2549:Empirical
2459:Economics
2329:March 20,
2305:956396690
2272:143794347
2227:143617926
2180:April 26,
2176:. Dotdash
2153:April 26,
2095:April 26,
2091:. Dotdash
1977:overheats
1932:classical
1847:short run
1820:recession
1812:Keynesian
1768:July 2024
1652:borrowing
1625:Borrowing
1598:Borrowing
1516:expansion
1512:recession
1309:economics
1215:Economics
1057:Karl Marx
972:Heterodox
951:Stockholm
917:Keynesian
688:Recession
583:Cost-push
573:Inflation
528:Deflation
3864:Category
3755:Military
3750:Language
3651:Monetary
3617:Economic
3598:Domestic
3593:Cultural
3503:Category
3483:journals
3469:Glossary
3422:Stiglitz
3387:Rothbard
3367:Buchanan
3352:Friedman
3342:Koopmans
3332:Leontief
3312:Robinson
3197:Marshall
3047:Lausanne
2951:Georgism
2946:Feminist
2894:Buddhist
2884:Austrian
2783:Regional
2759:Planning
2734:Monetary
2664:Feminist
2609:Cultural
2604:Business
2219:30042564
2011:See also
1946:currency
1875:long run
1828:New Deal
1633:such as
1584:Taxation
1571:such as
1351:, whose
1329:tax cuts
1199:See also
978:Austrian
736:Monetary
725:Policies
556:Rational
551:Adaptive
477:a series
475:Part of
340:Spending
168:Spending
141:internal
99:Monetary
64:Economic
52:Policies
3760:Science
3735:Housing
3709:Foreign
3630:Incomes
3518:Outline
3489:Schools
3481: (
3442:Piketty
3437:Krugman
3302:Kuznets
3292:Kalecki
3267:Polanyi
3157:Cournot
3152:Bastiat
3137:Ricardo
3127:Malthus
3117:Quesnay
3020:Marxian
2911:Chicago
2841:history
2836:Schools
2823:Welfare
2793:Service
2584:Applied
1954:imports
1950:exports
1930:In the
1752:scholar
1644:default
1637:or and
1613:(e.g.,
1573:welfare
1524:revenue
1514:nor an
1488:Stances
1472:of the
1220:Applied
1017:Marxian
907:Schools
377:Optimum
335:Revenue
173:deficit
163:Revenue
3788:Social
3714:Health
3678:Energy
3623:Fiscal
3609:reform
3576:Fields
3427:Thaler
3407:Ostrom
3402:Becker
3397:Sowell
3377:Baumol
3282:Myrdal
3277:Sraffa
3272:Frisch
3262:Knight
3257:Keynes
3232:Fisher
3227:Veblen
3212:Pareto
3192:Menger
3187:George
3182:Jevons
3177:Walras
3167:Gossen
3091:Thermo
2769:Public
2764:Policy
2719:Labour
2684:Health
2397:about
2303:
2293:
2270:
2225:
2217:
2121:
1995:while
1754:
1747:
1740:
1733:
1725:
1577:funded
1394:saving
1331:) and
1035:People
763:Models
731:Fiscal
708:Saving
568:Growth
434:Portal
405:Reform
299:Tariff
129:policy
124:Budget
94:Fiscal
84:Social
69:Energy
3773:Space
3665:Trade
3513:Lists
3508:Index
3459:Lists
3432:Hoppe
3417:Lucas
3382:Solow
3372:Arrow
3362:Simon
3327:Lange
3322:Hicks
3297:Röpke
3287:Hayek
3237:Pigou
3207:Clark
3122:Smith
3037:Mixed
2996:Post-
2818:Urban
2798:Socio
2788:Rural
2421:from
2268:S2CID
2254:(2).
2223:S2CID
2215:JSTOR
1937:bonds
1759:JSTOR
1745:books
1631:bonds
1593:money
1501:taxes
1325:taxes
856:NAIRU
774:AD–AS
769:IS–LM
632:Money
89:Trade
3704:Food
3603:Drug
3448:more
3172:Marx
3162:Mill
3147:List
3025:Neo-
2981:Neo-
2331:2013
2301:OCLC
2291:ISBN
2182:2019
2155:2019
2119:ISBN
2097:2019
1898:But
1841:The
1810:The
1731:news
1615:land
1607:Sale
1396:and
1311:and
922:Neo-
829:DSGE
523:CAGR
136:Debt
3658:Tax
3412:Sen
3132:Say
2991:New
2724:Law
2260:doi
2207:doi
1714:by
1650:or
1609:of
1370:GDP
1327:or
1307:In
927:New
671:SNA
620:NNI
615:GNI
610:GDP
180:Tax
3866::
2299:.
2266:.
2252:45
2250:.
2244:.
2221:.
2213:.
2203:34
2201:.
2172:.
2145:.
2133:^
2087:.
2007:.
1960:.
1830:.
1480:;
1422:,
1380:.
1315:,
479:on
3561:e
3554:t
3547:v
3485:)
2987:)
2983:(
2843:)
2839:(
2451:e
2444:t
2437:v
2333:.
2307:.
2274:.
2262::
2229:.
2209::
2184:.
2157:.
2127:.
2099:.
1981:h
1781:)
1775:(
1770:)
1766:(
1756:·
1749:·
1742:·
1735:·
1708:.
1617:)
1530:.
1410:.
1296:e
1289:t
1282:v
461:e
454:t
447:v
20:)
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