The usual description of Keynes's macroeconomics as relying on the postulate of money wage stickiness to explain unemployment, and advocating fiscal policy as its cure, is largely mythical. Rather he was concerned with exploring the theoretical idea that an economy co- ordinated by monetary...

Staatsausgaben und Steuereinnahmen verursachen nicht nur einen direkten Impuls, sondern lösen auch eine Multiplikatorwirkung aus. Die Erhöhung des Einkommens führt zu einer Ausweitung des privaten Konsums, somit zu einer weiteren Nachfrageerhöhung und einer abermaligen Produktionserhöhung...

Following the economic and legal reforms of the early 1990s, the Government of Mexico has developed new agricultural support programs that promote productivity and facilitate the adjustment process, while not interfering with the market economy put into p

It is argued that today's Canadian monetary system has certain important characteristics in common with a free banking regime such as might have evolved had matters been left to market forces, and that the Bank of Canada's recent success probably has more than a little to do with this fact. It...

To examine the long-run and short-run multipliers of fiscal policy in China, simple models with some basic characteristics of the Chinese economy are developed and then estimated using cointegration and error correction approaches. Empirical results confirm some similarities between the Chinese...

<span style="font-size: 12pt"><span style="font-size: 12pt">Fiscal reform in developing countries has succeeded in increasing tax revenue from indirect taxes. Here it is assumed that those taxes will be transferred backwards to wages rather than forward to prices. This implies a certain degree of flexibility of nominal wages, which, however is not so...</span></span>