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A Note on Nominal Government Expenditure Targets.

Abstract:
In IS-LM models, government expenditure is usually fixed in real terms. In this short note, we examine some of the implications of nominal government expenditure targets for both model stability and comparative statics. When a fixed money supply policy is in operation, nominal government expenditure targets may stabilize an otherwise unstable system. If this is the case, an increase in the nominal stock of money will reduce the price level in the long run.

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Publisher:
Elsevier
Journal:
Journal of Macroeconomics
Volume:
6
Issue:
1
Pages:
89 - 95
Publication date:
1984-01-01
DOI:
ISSN:
0164-0704
Language:
English
UUID:
uuid:3f495e06-2ced-4caa-bb88-dfef6c78b1e9
Local pid:
oai:economics.ouls.ox.ac.uk:11026
Deposit date:
2011-08-16

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