Econometric Review of Alternative Fiscal and Monetary Policies, 1971-75

Abstract

This paper attempts a selective and particular type of evaluation of monetary and fiscal policies in the U.S. over the period 1971-75. The investigation is carried out in the context of a set of well-known macroeconometric models of the U.S. economy with an experimental design that not only helps to evaluate the actual policies followed, but also assesses the ability of these models to offer useful advice to policy makers.