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Should-Read: N. Gregory Mankiw and Lawrence H. Summers (1984): Are Tax Cuts Really Expansionary?

Should-Read: N. Gregory Mankiw and Lawrence H. Summers (1984): Are Tax Cuts Really Expansionary?: “If consumer spending generates more money demand than other components of GNP…

…then tax cuts may… increasing the demand for money, [may] depress aggregate demand. We examine a variety of evidence and conclude that the necessary condition for contractionary tax cuts is probably satisfied for the U.S. economy.

Mankiw, N. Gregory Mankiw and Lawrence H. Summers. “Money Demand and the Effects of Fiscal Policies,” Journal of Money, Credit and Banking, Vol. 18 (November 1986): 415-429.

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Should-Read: N. Gregory Mankiw and Lawrence H. Summers (1984): Are Tax Cuts Really Expansionary?

January 20, 2017

AUTHORS:

January 20, 2017

AUTHORS:

Factsheet: Is the U.S. economy in a recession, and how does recession dating work?

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon