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Federal Reserve Bank of Cleveland
Working Papers (Old Series)
Welfare, stabilization, or growth: a comparison of different fiscal objectives
Steven P. Cassou
Kevin J. Lansing
Abstract

An argument that stabilization produces welfare levels nearly identical to those of welfare maximation, and that both these policies yield large welfare gains and modest growth losses relative to growth maximization policies.


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Steven P. Cassou & Kevin J. Lansing, Welfare, stabilization, or growth: a comparison of different fiscal objectives, Federal Reserve Bank of Cleveland, Working Papers (Old Series) 9614, 1996.
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Keywords: Fiscal policy
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