Keynes' Law and Its Critics. Critics of Keynes' "fundamental psychological law" that the rate of current consumption declines with increases in current income claimed it was incomplete, produced incorrect predictions and emphasized the wrong spending behavior. These objections involve confusion over the effects of individual and average data on spending estimates. When data types are carefully ...

Free AccessImportant Keywordshttps://doi.org/10.14220/9783737013444.259SectionsPDF/EPUB ToolsAdd to favoritesDownload CitationsTrack Citations ShareShare onFacebookTwitterLinkedInRedditEmail About Previous chapter Next FiguresReferencesRelatedDetails Download book coverOsnabrücker Studien zur Jüdischen und Christlichen Bibel.Volume 8 1st editionISBN: 978-3-8471-1344-7 eISBN: 978-3-7370-1344-4Hi...

this paper aims to investigate the role of each aggregate spending component in the monetary policy transmission in indonesia. it assesses the relative strength of the role of each spending component in the monetary policy transmission. in so doing, this study employs the contribution analysis, which is calculated based on the cumulative impulse response of each component of gdp to a monetary p...

Globally, road traffic injuries accounted for about 1.36 million deaths in 2015 and are projected to become the fourth leading cause of disability-adjusted life years (DALYs) lost by 2030. One-fifth of these deaths occurred in South Asia where road traffic injuries are projected to increase by 144% by 2020. Despite this rapidly increasing disease burden there is limited evidence on the economic...

This paper examines the mechanism through which pro-growth policies such as government spending on infrastructure might a¤ect the dynamics of inequality. We develop a model in which government-provided infrastructure is not only the engine of growth, but also a critical determinant of the distributions of wealth, income, and welfare. Government spending on infrastructure by itself is shown to b...

Household consumption is the largest component of aggregate expenditure in most economies. In Lithuania it accounts for about 65% of spending. Therefore it is important for macroeconomists to be able to explain the determinants of consumer spending via a well-specified consumption function. Although literature on modelling consumption is large [2], in Lithuanian academic literature the analysis...

Testing cyclicality of fiscal policy is pertinent in any country to observe its type with the business cycle. In oil abundant economy, price and trade openness may also play a role determining cyclicality. This research probes economic growth, openness, on government consumption growth verify Saudi Arabia from 1971 2018. The cointegration test Pesaran (2001) utilized hypothesis augmented critic...

Health care extends life. Over the past half century, Americans spent a rising share of total economic resources on health and enjoyed substantially longer lives as a result. Debate on health policy often focuses on limiting the growth of health spending. We investigate an issue central to this debate: Is the growth of health spending the rational response to changing economic conditions—notabl...