Do FR Purchases, Used as Deficit Modifiers, Reduce Crowd Out, Controlling for the Level of Private Saving and Foreign Borrowing

John Heim

Chapter Chapter 16 in Why Fiscal Stimulus Programs Fail, Volume 2, 2021, pp 375-401 from Springer

Abstract: Abstract This chapter again tests the effects of Fed securities purchases in reducing crowd out. The one variable definition of the deficit is used. This time, only private saving (public saving excluded) and foreign borrowing are controlled for. These models were found to be less satisfactory; they explained less variance than models using total or all endogenous loanable funds as a control.

Date: 2021
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DOI: 10.1007/978-3-030-64727-8_16

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