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dc.contributor.authorMakin, Anthony J
dc.date.accessioned2017-05-03T14:25:17Z
dc.date.available2017-05-03T14:25:17Z
dc.date.issued2015
dc.identifier.issn1074-3529
dc.identifier.doi10.1111/coep.12051
dc.identifier.urihttp://hdl.handle.net/10072/64081
dc.description.abstractThis article theoretically examines the impact of different forms of government spending on national income in a financially open economy with a significant net international investment position the central bank of which sets domestic interest rates to target inflation. It shows that whether government spending is expansionary or contractionary ultimately depends on the productivity of that expenditure, a result that has major implications for the efficacy of fiscal policy deployed for either stimulus or austerity reasons. The key prediction of the model is that public consumption and unproductive public investment are procyclical, whereas only productive public investment is countercyclical. (JEL F41)
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.languageEnglish
dc.language.isoeng
dc.publisherWiley-Blackwell Publishing
dc.publisher.placeUnited Kingdom
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto10
dc.relation.ispartofjournalContemporary Economic Policy
dc.rights.retentionY
dc.subject.fieldofresearchApplied economics
dc.subject.fieldofresearchPolicy and administration
dc.subject.fieldofresearchPolicy and administration not elsewhere classified
dc.subject.fieldofresearchcode3801
dc.subject.fieldofresearchcode4407
dc.subject.fieldofresearchcode440799
dc.titleExpansionary versus contractionary government spending
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.date.issued2014-12-01T04:50:08Z
gro.hasfulltextNo Full Text
gro.griffith.authorMakin, Tony J.


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