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Government Policy Response to War-Expenditure Shocks

31 Pages Posted: 13 Apr 2012  

Fernando M. Martin

Federal Reserve Banks - Federal Reserve Bank of St. Louis

Date Written: October 6, 2011

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 policy, limited commitment, U.S. wars, money micro-foundations

JEL Classification: E13, E52, E62, E63, H60

Suggested Citation

Martin, Fernando M., Government Policy Response to War-Expenditure Shocks (October 6, 2011). Available at SSRN: https://ssrn.com/abstract=2038952 or http://dx.doi.org/10.2139/ssrn.2038952

Fernando M. Martin (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of St. Louis ( email )

411 Locust St
Saint Louis, MO 63011
United States
314-444-7350 (Phone)

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