FULL EMPLOYMENT POLICY AND ECONOMIC GROWTH,
Abstract
The paper explores how the rate of labor force growth and the pace of technical advance rate influence the fiscal and monetary policies needed to maintain equality of aggregate demand and potential output. The aggregative model attempts to tie together two strands of analysis that have developed in the literature--a neoclassical strand stemming from Solow's work on the determinants of growth of potential output and a neo-Keynesian strand stemming from the Harrod-Domar studies of the conditions under which full employment can be maintained in a growing economy. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Dec 01, 1965
- Accession Number
- AD0625691
Entities
People
- Richard R. Nelson
Organizations
- RAND Corporation