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II. Supply-Side Effects of Fiscal Policy

I. The Foreign Exchange Market | II. Exchange Rate Fluctuations | III. Exchange Rate Policy | IV. Financing International Trade | I. Aggregate Supply | II. Aggregate Demand | The Business Cycle | I. Fixed Prices and Expenditure Plans | II. Real GDP with a Fixed Price Level | III. The Multiplier |


Читайте также:
  1. Discretionary Fiscal Stimulus
  2. II. The Conduct of Monetary Policy
  3. III. Exchange Rate Policy
  4. III. Generational Effects of Fiscal Policy

The effects of fiscal policy on employment, potential GDP, and aggregate supply are known as supply-side effects.

The Effects of Taxes on Full Employment and Potential GDP

Some Real World Tax Wedges … Does the Tax Wedge Matter?

Tax wedges vary across countries, being much higher in France than in the United States. According to supply-side economists such as Ed Prescott, the tax wedge has a large impact on potential GDP. Potential GDP per person in France is 14 percent below that in the United States and Prescott asserts that the entire difference can be attributed to the difference in the countries’ tax wedges.

Taxes and the Incentive to Save and Invest

Tax Revenues and the Laffer Curve


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IV. The Multiplier and the Price Level| III. Generational Effects of Fiscal Policy

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