Effective Demand in the Recent Evolution of the U.S. Economy
This paper puts forward the notion that the recent evolution of the U.S. economy can be fully explained by demand-side variables. The authors empirically test some hypotheses about the role of fiscal and monetary policies and of income distribution in shaping effective demand. Using a rigorous econo...
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| Veröffentlicht in: | International journal of political economy 2013-04, Vol.42 (1), p.59-81 |
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| container_title | International journal of political economy |
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| creator | Julio, López G. Ortiz, Luis Reyes |
| description | This paper puts forward the notion that the recent evolution of the U.S. economy can be fully explained by demand-side variables. The authors empirically test some hypotheses about the role of fiscal and monetary policies and of income distribution in shaping effective demand. Using a rigorous econometric analysis, they estimate a macroeconomic model, test the validity of its probability and underlying statistical assumptions, and conclude that fiscal and monetary variables, together with the wage share, do in fact influence effective demand and thus shape the overall evolution of the U.S. economy. |
| doi_str_mv | 10.2753/IJP0891-1916420105 |
| format | Article |
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| ispartof | International journal of political economy, 2013-04, Vol.42 (1), p.59-81 |
| issn | 0891-1916 1558-0970 |
| language | eng |
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| source | PAIS Index; Business Source Complete; Jstor Complete Legacy; Political Science Complete |
| subjects | aggregate-factor income distribution capital tax Demand Econometrics Economic policy Economics and Finance fiscal policy Humanities and Social Sciences Income distribution macroeconomic policy Macroeconomics Monetary policy post-Keynesian simultaneous equation models Studies |
| title | Effective Demand in the Recent Evolution of the U.S. Economy |
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