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Journal article
Coordinating macroeconomic policy in a simple AK growth model
Journal of macroeconomics, v 27(4), pp 621-647
Dec 2005
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
Modern theories of government finance stress the importance of an economy’s fiscal deficits in determining the course of monetary policy. Modern growth theory stresses the role of monetary factors in economic growth. This paper explores how these two are interrelated, using a simple AK growth model, one with money, reserve requirements, and government debt. We provide a comprehensive look at the coordination of macroeconomic policy and its effects on long-run growth under three alternative coordinating arrangements. We uncover some unconventional results regarding the relationship between growth and a number of policy variables; these rest squarely on the constraint of the coordination process.
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Details
- Title
- Coordinating macroeconomic policy in a simple AK growth model
- Creators
- Richard C. Barnett - Villanova University
- Publication Details
- Journal of macroeconomics, v 27(4), pp 621-647
- Publisher
- Elsevier
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Economics (School of Economics); Bennett S. LeBow College of Business; Drexel University
- Web of Science ID
- WOS:000233466900004
- Scopus ID
- 2-s2.0-28044433160
- Other Identifier
- 991019551628204721
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- Web of Science research areas
- Economics