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- W1558082911 abstract "The paper utilizes a comparative static asset theoretic framework to reevaluate the well-known Fleming-Mundell conclusion that fiscal policy is an effective countercyclical device under fixed exchange rates but ineffective under flexible rates. In addition to a monetary approach to portfolio and balance of payments equilibrium, the analytical framework contains a complete specification of the production and employment conditions, a fixed money wage rate and less than full employment. This formulation yields strongly monetarist balance of payments conclusions together with more general and favorable fiscal policy conclusions than those obtained in the conventional neo-Keynesian literature." @default.
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- W1558082911 date "1980-01-01" @default.
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- W1558082911 title "Tax Policy in the Small Open Economy: A Monetary Approach to A Keynesian Problem" @default.
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- W1558082911 doi "https://doi.org/10.2307/3439748" @default.
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