Policy Effects in the Post Boom U.S. Economy

Ray Fair ()

No 1497, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: The paper analyzes the question why the U.S. economy in the 2000:4-2004:3 period was sluggish in light of the large expansionary fiscal and monetary policies that took place. The answer does not appear to be that there were large structural changes in the economy or systematic bad shocks. This paper tests for such changes and shocks, and the results are generally negative. Instead, the main culprits seem to be large negative effects from declines in the stock market and exports. Although not tested in this paper, some of the decline in exports may be the result of the stock market decline, in which case most of the explanation is simply the stock market decline itself.

Keywords: Fiscal policy; Monetary policy (search for similar items in EconPapers)
JEL-codes: E00 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2005-01
New Economics Papers: this item is included in nep-mac
Note: CFP 1193
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Published in Topics in Macroeconomics (2005), 5(1): Article 19

Downloads: (external link)
https://cowles.yale.edu/sites/default/files/files/pub/d14/d1497.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
Journal Article: Policy Effects in the Post Boom U.S. Economy (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:1497

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Brittany Ladd ().