Fiscal Policy

  1. Fiscal Policy in the Macroeconomic Framework
    1. The Aggregate Demand-Aggregate Supply Model
      1. Structure of the AD-AS Model
        1. Aggregate Demand Components
          1. Aggregate Supply Curves
          2. Shifting the Aggregate Demand Curve
            1. Impact of Expansionary Policy
              1. Impact of Contractionary Policy
                1. Magnitude of Shifts
                2. Short-Run Effects
                  1. Price and Output Changes
                    1. Employment Effects
                    2. Long-Run Effects
                      1. Price Level Adjustments
                        1. Output Return to Potential
                        2. Output Gaps
                          1. Recessionary Gap
                            1. Inflationary Gap
                              1. Potential Output Estimation
                            2. The Keynesian IS-LM Model
                              1. Structure of the IS-LM Model
                                1. Investment-Savings Curve
                                  1. Liquidity Preference-Money Supply Curve
                                  2. Fiscal Policy and the IS Curve
                                    1. Shifting the IS Curve
                                      1. Determinants of IS Curve Shifts
                                        1. Slope of the IS Curve
                                        2. Interaction with the LM Curve
                                          1. Interest Rate Effects
                                            1. Crowding-Out in the IS-LM Framework
                                              1. Equilibrium Determination
                                              2. Policy Effectiveness in Different Economic Conditions
                                                1. Liquidity Trap
                                                  1. Investment Sensitivity
                                                2. Dynamic Stochastic General Equilibrium Models
                                                  1. DSGE Framework
                                                    1. Fiscal Policy in DSGE Models
                                                      1. Microfoundations of Fiscal Effects

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                                                    3. Stances of Fiscal Policy

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                                                    5. The Multiplier Effect