The Effect of Monetary and Fiscal Policies on Regional Business Cycles
A Keynesian reduced-form quarterly model of regional income determination is constructed and tested for the eight regions of the United States. The results support the view that national economic policy exerts a significant direct influence on a region's export earnings. The findings are in conflict with some monetarist models, in that fiscal policy, as well as monetary policy, strongly influences regional basic economic activity. Also, the findings suggest the desirability of incorporating national policy variables into regional econometric models.
Year of publication: |
1979
|
---|---|
Authors: | Garrison, Charles B. ; Chang, Hui S. |
Published in: |
International Regional Science Review. - Vol. 4.1979, 2, p. 167-180
|
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
The effect of monetary and fiscal policies on regional business cycles
Garrison, Charles B., (1979)
-
Subregional income differentials : a study of the Tennessee Valley region
Garrison, Charles B., (1981)
-
Specification of Bernoullian utility function in decision analysis
Lin, William W., (1978)
- More ...