Government Policy Response to War-Expenditure Shocks
Fernando M. Martin
Federal Reserve Banks - Federal Reserve Bank of Saint Louis
October 6, 2011
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.
Number of Pages in PDF File: 31
Keywords: government policy, limited commitment, U.S. wars, money micro-foundations
JEL Classification: E13, E52, E62, E63, H60working papers series
Date posted: April 13, 2012
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