Government spending: Revision history


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  • curprev 10:4610:46, 19 April 2024JGS952 talk contribs 68,410 bytes +1,377 →‎Macroeconomic fiscal policy: The description of nominal crowding out was empirically wrong. Instead I've made clear that crowding out only refers to real resource shift from private to public use. I've also made clear that, all else equal and in the first instance, increased government deficits can only act to inject liquidity into the banking system and so would push down on the overnight rates. The Treasury and Central Bank only then intervene to drain this excess. Tag: Visual edit
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