Showing 1 - 2 of 2
This paper uses the old-Keynesian representative agent model developed in Farmer (2010b) to answer two questions: 1) do increased government purchases crowd out private consumption? 2) do increased government purchases reduce unemployment? Farmer compared permanent tax financed expenditure paths...
Persistent link: https://www.econbiz.de/10012462012
This paper presents a theory of the monetary transmission mechanism in a monetary version of Farmer's (2009) model in …
Persistent link: https://www.econbiz.de/10012462135