Initial Tests of Whether Crowd Out Can Be Offset by Increases in Loanable Funds

John Heim

Chapter Chapter 8 in Why Fiscal Stimulus Programs Fail, Volume 2, 2021, pp 151-161 from Springer

Abstract: Abstract This chapter provides the initial tests to determine if the “crowd out” effect of deficits on consumer and investment spending can be offset by increased Federal Reserve purchases of securities from banks in the open market for the purpose of increasing their loanable funds so as to provide banks with the additional liquidity necessary to offset crowd out. The tests indicate crowd out effects can be offset this way, allowing the stimulative effects of deficits to be felt.

Date: 2021
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DOI: 10.1007/978-3-030-64727-8_8

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