Are tax cuts really expansionary?
1984
Mankiw, N. Gregory
In this paper, we re-examine the standard analysis of the short-run effect of a personal tax cut. If consumer spending generates more money demand than other components of GNP, then tax cuts may, by increasing the demand for money, depress aggregate demand. We examine a variety of evidence and conclude that the necessary condition for contractionary tax cuts is probably satisfied for the U.S. economy.
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书目信息
出版者
National Bureau of Economic Research
其它主题
Monetary policy
语言
英语
注释
N. Gregory Mankiw, Lawrence H. Summers.
Includes bibliographical references (pages 36-38).
类型
Text; Monograph; Book; Bibliography; Book; Monograph
2024-02-27
2025-07-20
MODS