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The Effectiveness of Aggregate Demand Management Policy

In: Human Psychology and Economic Fluctuation

Author

Listed:
  • Hideaki Tamura

Abstract

In this chapter we use the “loanable funds theory” of classical macro-economic theory (discussed in Section 2.1 of Chapter 4) to analyze the mechanism by which aggregate demand management policy (monetary and fiscal policy) can alter households’ monetary utility attrition rates and thereby have an impact on various economic variables, and then show that it is possible to construct a model in which changes to utility attrition rates cause the money market and real markets to interact. In order to simplify our analysis, we omit any discussion of cash hoarding by households and firms or “induced investment” that depends on income or production.

Suggested Citation

  • Hideaki Tamura, 2006. "The Effectiveness of Aggregate Demand Management Policy," Palgrave Macmillan Books, in: Human Psychology and Economic Fluctuation, chapter 0, pages 125-134, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50563-6_7
    DOI: 10.1057/9780230505636_7
    as

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