Fiscal policy within the IS-LM framework / Shahdad Naghshpour.
Naghshpour, Shahdad., author.
2014
HJ192.5 N244 2014
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Title Fiscal policy within the IS-LM framework / Shahdad Naghshpour.
Author Naghshpour, Shahdad., author.
Edition First edition.
ISBN 9781606497227 (paperback)
9781606497234 (electronic bk.)
Published New York, New York (222 East 46th Street, New York, NY 10017) : Business Expert Press, 2014.
Language English
Description 1 online resource (139 pages)
Call Number HJ192.5 N244 2014
Dewey Decimal Classification 339.52
Summary Governments have become an integral part of economics in modern societies. The extent of government involvement is not limited to legislation, foreign policy, or law and order. Governments intervene in economic affairs by collecting taxes and spending what they collect. The amount of taxes and who pays them, as well as the amount of government expenditures and who receives them, has a significant impact on income distribution. However, the main focus of the study of fiscal policy is on the overall economic impact of government involvement in the economy, instead of its distributional effects. While we know that when a person is taxed his or her utility is reduced, and when someone receives a payment, either because of selling something to the government or in the form of transfer payment, that person's utility increases. However, economic theory is not able to determine what happens to social utility when one person is taxed and another person receives the government payment. By not addressing the utility effect of government intervention in the economy the need for finding an answer to what happens to collective utility vanishes and allows us to focus on what happens to aggregate economic measures when the government intervenes in economic activities.
Note Part of: 2013 digital library.
Bibliography, etc. Note Includes bibliographical references (pages 131-136) and index.
Access Note Access limited to authorized users.
Source of Description Title from PDF title page (viewed on January 25, 2014).
Series 2013 digital library.
Economics collection. 2163-7628
Available in Other Form Print version: 9781606497227
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Section I. Background and fundamental theories
1. A brief history of fiscal theory
2. Politics and fiscal policy
3. Two blades are better than one: the role of IS-LM
Section II. Interest rate and fiscal theory
4. The role of interest rate in fiscal policy
5. Liquidity preference
6. Operation and effectiveness of fiscal policy
7. Questioning Keynesian theory
Section III. Schools of thought in fiscal theory
8. New Keynesian school
9. Post Keynesian
Section IV. The evidence
10. Empirical evidence regarding fiscal policy
11. Conclusion
Glossary
Notes
References
Index.

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