Working Paper

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.

Keywords: Government spending policy; War - Economic aspects; War finance;

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Bibliographic Information

Provider: Federal Reserve Bank of St. Louis

Part of Series: Working Papers

Publication Date: 2011

Number: 2011-028