The Origins of Keynesian Fiscal Activism

Hans Brems

Journal of the History of Economic Thought, 1994, vol. 16, issue 1, 27-39

Abstract: The first part of the paper, “The Freeze,” restates the simplified Keynesian framework of fiscal activism pioneered by Jargen Pedersen (1937) and Alvin H. Hansen (1941). The framework is a macroeconomic model in which investment, the bond supply, price, the money wage rate, and the rate of interest are all frozen. Using government purchase and the tax rate as its policy instruments the paper solves the model and finds its fiscal multipliers.

Date: 1994
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