Journal ArticleDOI
Fiscal Policy in IS-LM Analysis: A Correction
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This article is published in Journal of Money, Credit and Banking.The article was published on 1970-11-01. It has received 91 citations till now. The article focuses on the topics: Fiscal union & Fiscal imbalance.read more
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Government Deficit and Substitutability between Debt Instruments
TL;DR: This article provided theoretical and empirical analysis for the issue of crowding out when a distinction is noted between bonds and loans as debt instrument. And they showed that the differential impact on asset returns of the fiscal policy depends upon the degree of substitutability between the financial assets.