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- W1921259991 abstract "This paper shows in a model of an economy with goods, labour, bond and money market where prices and wages are fixed but the interest rate is flexible that even in a Keynesian unemployment state an increase in government expendi ture will not necessarily increase employment, if production takes time. The robustness of this proposition in regard to expectational assumptions is studied, too." @default.
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- W1921259991 date "2016-01-01" @default.
- W1921259991 modified "2023-09-26" @default.
- W1921259991 title "On the Efficacy of Fiscal Policy" @default.
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