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Monetary and fiscal dynamics

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The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy: As a response to the shock, the central bank continuouslyadapts the quantity of money so as to keep up full employment all the time. And the government continuously accommodates its purchases of goods and services. Can this be ...

Monetary and Fiscal Dynamics 1992, Physica-Verlag

ISBN-13: 9783790806199

Softcover Reprint of the Origi edition

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Monetary and Fiscal Dynamics 1992, Physica-Verlag, [Heidelberg]

ISBN-13: 9780387914237

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