Lecture 13 Outline

Lecture 13 Outline - C Reasons the Regression Results Might...

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Economics 134 Professor Christina Romer Spring 2012 Professor David Romer LECTURE 13 DOES FISCAL POLICY MATTER? FEBRUARY 28, 2012 I. T HE E FFECTS OF F ISCAL P OLICY IN THE IS-MP-IA M ODEL A. The Short-Run Effects on Output and the Real Interest Rate: The IS-MP Diagram B. The Effects on Output, Inflation, and the Real Interest Rate over Time: The AD-IA Diagram C. Discussion II. H ALL S E VIDENCE A. Hall’s Regression B. What Question Are We Trying to Answer?
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Unformatted text preview: C. Reasons the Regression Results Might Overstate or Understate the Effects of Fiscal Policy D. Results E. Hall’s Conclusion III. R AMEY AND S HAPIRO ’ S E VIDENCE A. How Ramey and Shapiro’s Approach Differs from Hall’s B. The Ramey-Shapiro Dates C. Discussion D. Results IV. R OMER AND R OMER ’ S E VIDENCE A. Romer and Romer’s Approach B. Discussion C. Results...
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