Cyclical Effects of the Composition of Government Purchases /
This paper constructs a general equilibrium model with monopolistically competitive firms and endogenous markups where government spending consists of both consumption and investment goods. It is shown that when markups are countercyclical, increases in the share of investment goods in aggregate gov...
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| Format: | Czasopismo |
| Język: | English |
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Washington, D.C. :
International Monetary Fund,
1997.
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| Seria: | IMF Working Papers; Working Paper ;
No. 1997/019 |
| Dostęp online: | Full text available on IMF |