Alternate Ways of Modeling How Deficit Variables Modified by Accommodative Monetary Policy Reduce Crowd Out (Bernanke, Mankiw Definitions of Accommodative Monetary Policy)

John Heim

Chapter Chapter 13 in Why Fiscal Stimulus Programs Fail, Volume 2, 2021, pp 321-338 from Springer

Abstract: Abstract In this chapter, we test the hypothesis that a limited portion of the total loanable funds pool, the exogenous part of the pool, namely FR open market securities purchases (Tr + A), is the only part of loanable funds pool that actually offsets crowd out effects of (T) and (G) deficits. In other words, we test the hypothesis that the total pool of loanable funds (S + FB) is just an oversized proxy for the changes in one component of this total that makes a difference: (Tr + A).

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-64727-8_13

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DOI: 10.1007/978-3-030-64727-8_13

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