THE ‘EXPANSIONARY FISCAL CONTRACTION’ HYPOTHESIS: A NEO-KEYNESIAN ANALYSIS

It has recently been argued that several fiscal contractions can, through their impact on expectations, lead to growth in consumption, investment and employment. Since such contractions typically occur because adjustment has been delayed due to fear of aggravating unemployment, we examine the hypoth...

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Veröffentlicht in:	Oxford economic papers 1995-04, Vol.47 (2), p.249-264
Hauptverfasser:	BARRY, FRANK, DEVEREUX, MICHAEL B.
Format:	Artikel
Sprache:	eng
Schlagworte:	Aggregate demand Economic development Economic investment Economic models Economic recessions Economic theory Employment External debts Financial economics Financial investments Fiscal policy Fiscal theory Full employment Hypotheses Keynesianism Neokeynesianism Unemployment
Online-Zugang:	Volltext
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