Does Neoclassical Theory Account for the Effects of Big Fiscal Shocks? Evidence From World War II
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There is much debate about the usefulness of the neoclassical growth model for assessing the macro-economic impact of fiscal shocks. We test the theory using data from World War II, which is by far the largest fiscal shock in the history of the United States. We take observed changes in fiscal
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美国国家经济研究局创建时间：
2006-04-01
