 | United States. Congress. Senate. Committee on the Budget - 1991 - 954 lapas
...inflation, but does not raise long-run potential output. Fiscal policy alters the allocation of national resources between the public and private sectors and...by altering incentives to consume, save and invest, but does not generate a permanent shift in aggregate demand. Moreover, even the attempt to change the... | |
 | United States. Congress. Senate. Committee on the Budget - 1995 - 650 lapas
...aggregate demand, but instead alters the allocation of national resources between public and private uses, and influences long-run potential output by altering incentives to consume, save and invest. Previous attempts to use fiscal policy as a countercyclical tool to achieve short-run objectives have... | |
 | United States. Congress. Senate. Committee on the Budget - 1996 - 440 lapas
...Fiscal policy determines the allocation of national resources between the public and private sector and influences long-run potential output by altering...Fiscal policy is not capable of generating a permanent shift in aggregate demand. Accommodative monetary policy is incapable of enhancing long-run productivity... | |
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It is generally recognized that excessively stimulative monetary policy raises the long-run equilibrium price level, but does not raise long-run potential output. Fiscal policy alters the allocation of national resources between the public and private... 