Impact of Monetary and Fiscal Policies on Real Output

G. S. Laumas
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G. S. Laumas: Southern Illinois University

Eastern Economic Journal, 1991, vol. 17, issue 2, 157-163

Abstract: The major innovation of this paper is to jointly estimate the effects of anticipated and unanticipated monetary and fiscal policies on real output. Previous studies had analyzed the impact of either monetary or fiscal policy on real output. The real output equation indicated a break in 1971 which led to the estimation of the output equation for two sample periods. During the sample period from 1960:3 to 1971:1, anticipated and unanticipated fiscal policy along with unanticipated monetary policy affected real output. In the second sample period only the fiscal policy variables had impact on real output; monetary variables did not have a lasting impact real output.

Keywords: Fiscal Policy; Monetary; Policy (search for similar items in EconPapers)
JEL-codes: E63 (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:eej:eeconj:v:17:y:1991:i:2:p:157-163

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