1 option
Fiscal Policy, Capital Accumulation, and Debt in an Open Economy / Stephen J. Turnovsky, Partha Sen.
- Format:
- Book
- Author/Creator:
- Turnovsky, Stephen J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3489.
- NBER working paper series no. w3489
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1990.
- Summary:
- This paper analyzes the effects of changes in government expenditures on both a domestically produced and an imported good in an open economy based on intertemporal optimizing behavior. The dynamic adjustment is characterized in detail and the critical role played by the accumulating capital stock is highlighted. The evolution of the current account is seen to mirror that of capital. The welfare of such policies is also assessed in tans of the intertemporal utility of the representative agent. Both permanent and temporary policy changes are considered, with the latter being shown to have a permanent effect on the economy.
- Notes:
- Print version record
- October 1990.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.