Fiscal spending and national income with imperfect competition
Article Abstract:
Recent research has looked at the impact of fiscal spending in a two-sector economy with imperfect competition. Attention has been given to both the classical and the Keynesian economy, with the effect of fiscal spending being assessed through two channels: the role of the policy-transmission mechanism of increasing returns and entry and the role of sectoral imbalances and asymmetries. It was found that fiscal policy is always contradictory in the classical economy, while fiscal policy can also reduce income in the two-sector economy where there is some unemployment.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Credit quality spreads, bond market efficiency and financial fragility
Article Abstract:
Bond yields may be accurate predictors of corporate default incidence and general financial fragility. Large credit quality spreads in the British bond market are studied over the 1960s to the 1980s as harbingers of recessions, and are compared with those of the US market as to predictive power. The results suggest that during the eighties, the US bond market was a more efficient indicator of default risk than the UK market, due to evidence of increased market segmentation in the latter. Both markets were equally efficient predictors during the two previous decades.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
Financial liberalization and the permanent income hypothesis
Article Abstract:
The permanent income theory is tested using data from OECD countries consisting of household consumption and financial liberalization. Results show that the hypothesis is empirically valid except in the case of Germany and Australia. In other words, for most industrial countries, deregulation has helped reduce the dependence of domestic investment on domestic savings. Disposable income does not pose as a liquidity constraint in most instances.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Sexuality and sexual expression in persons with mental retardation. "For sex: see librarian": librarians, sexologists, and sexuality education
- Abstracts: Environmental policies and innovation: a knowledge-based perspective on cooperative approaches. Firms' motivations for cooperative R&D: an empirical analysis of Spanish firms
- Abstracts: Reply to subsidies, additionality and financial constraints. The welfare aspects of spatial pricing policies reconsidered for a monopoly case
- Abstracts: Covariance structure modeling in organizational research: problems with the method versus applications of the method
- Abstracts: The death penalty: impending challenges. First Monday: celebrating public interest law. The juvenile death penalty: in the best interest of the child?