FULL EMPLOYMENT POLICY AND ECONOMIC GROWTH,

Abstract

Within the context of a simple aggregative model, the paper explores how the rate of labor force growth and the rate of technical advance influence the fiscal and monetary policies needed to maintain equality of aggregate demand and potential output. The 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
Feb 01, 1966
Accession Number
AD0628201

Entities

People

  • Richard R. Nelson

Organizations

  • RAND Corporation

Tags

DTIC Thesaurus Topics

  • Economic Policy
  • Economics
  • Employment
  • Humanities
  • Literature
  • Monetary Policy
  • Stemming

Fields of Study

  • Economics

Readers

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