Alessandra
Chirco
,
Caterina
Colombo
|
Full Version (PDF)
|
In this paper we study the transmission mechanism of fiscal policy based on possible changes in the elasticity of demand. These are obtained by assuming that firms face a balance of public and private demands, each characterized by different price elasticity. We show that in this set-up there exists a range of the technological conditions under which fiscal policy is expansionary, independently of the pro or counter-cyclical nature of its impact on the desired mark-up.
Table of Contents
Introduction |
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Alessandra
Chirco
,
Caterina
Colombo
|
2-2 |
The basic set-up |
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Alessandra
Chirco
,
Caterina
Colombo
|
3-7 |
The elasticity transmission mechanism and the properties of technology |
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|
Alessandra
Chirco
,
Caterina
Colombo
|
7-11 |
Extensions |
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Alessandra
Chirco
,
Caterina
Colombo
|
11-13 |
Conclusions |
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|
Alessandra
Chirco
,
Caterina
Colombo
|
13-14 |
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