O circuito finance-investimento-poupança-funding na economia aberta e com o governo

Douglas Alencar (), Marco Flávio Resende, Lúcio Otávio Seixas Barbosa and Gustavo Figueiredo Campolina Diniz
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Lúcio Otávio Seixas Barbosa: Cedeplar-UFMG
Gustavo Figueiredo Campolina Diniz: Cedeplar-UFMG

No 531, Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: Keynes explained the Finance-Investment-Saving-Funding (FISF) circuit assuming a closed economy without government. Lately, Resende (2008) and Arestis and Resende (2015) expand the above circuit opening the economy, nonetheless without government. This paper novelty is to analyse the FISF circuit in an open economy context including government. Moreover, we studied the fiscal policy effects on aggregate demand. It is argued that when the economy is operating with current account surplus and under full capacity, expansionary fiscal policy stimulates aggregate income. Conclusions highlight the validity of the FISF circuit in an open economy context including government.

Keywords: Finance-Investment-Savings-Funding; open economy; government. (search for similar items in EconPapers)
JEL-codes: E12 E21 E62 F41 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2015-12
New Economics Papers: this item is included in nep-mac
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Working Paper: O CIRCUITO FINANCE-INVESTIMENTO-POUPANÇA-FUNDING NA ECONOMIA ABERTA E COM GOVERNO (2016)
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