Full employment policy and economic growth
Expert InsightsPublished 1966
An investigation within the context of a simple aggregative model of how the rate of labor force growth and the rate of technical advance influence the fiscal and monetary policies needed to maintain equality of aggregate demand and potential output. The model integrates two strands of analysis: (1) the neoclassical strand, from Solow's work on the determinants of growth of potential output; and (2) the neo-Keynesian strand, from the Harrod-Domar studies of the conditions under which full employment can be maintained in a growing economy.
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Document Details
- Copyright: RAND Corporation
- Availability: Web Only
- Year: 1966
- Pages: 37
- DOI: https://doi.org/10.7249/pubs
- Document Number: P-3072-3
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