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dc.contributor.authorBarry, Frank
dc.contributor.authorDevereux, Michael B.
dc.date.accessioned2012-07-31T13:47:13Z
dc.date.available2012-07-31T13:47:13Z
dc.date.issued1992
dc.identifier.citationBarry, Frank G.; Devereux, Michael B. 'Crowding out effects of government spending'. - Economic & Social Review, Vol. 23, No.3, April, 1992, pp. 199-221. Dublin: Economic & Social Research Institute
dc.identifier.issn0012-9984
dc.identifier.otherJEL H41
dc.identifier.otherJEL H50
dc.identifier.urihttp://hdl.handle.net/2262/64499
dc.description.abstractThis paper surveys the recent theoretical literature on the linkage between government spending and the real economy. Two broad frameworks are explored. Nee-Keynesian models deal with economies characterised by wage or price rigidities, and unemployment. Neo-classical models assume a frictionless economy with perfect wage and price flexibility. In contrast to traditional textbook analysis of fiscal policy however, both models stress the intertemporal dimension of policy, and the rOle of private sector expectations concerning the future path of policy. The two frameworks are used to analyse the response of macroeconomic aggregates to cuts in government spending that may be either temporary or permanent. In most, but not all cases, the results suggest that cuts in government spending will be associated with at least temporary reductions in output.en
dc.language.isoen
dc.publisherEconomic & Social Studies
dc.sourceEconomic & Social Reviewen
dc.subjectgovernment spendingen
dc.subjectFiscal policyen
dc.subjectMacroeconomicsen
dc.titleCrowding out effects of government spending
dc.typeJournal Article
dc.publisher.placeDublinen


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