Government policy response to war-expenditure shocks
Abstract: A theory of government policy determination, based on intertemporal distortion-smoothing and limited commitment, matches the set of stylized facts of U.S. wartime policy.
File(s): File format is application/pdf http://research.stlouisfed.org/wp/2011/2011-028.pdf
Provider: Federal Reserve Bank of St. Louis
Part of Series: Working Papers
Publication Date: 2011