11. Analyzing Properties
of the US Model |

11.1 Introduction 11.2 A General Discussion of the US Model's Properties 11.3 Computing Multipliers and Their Standard Errors 11.3.1 Fiscal Policy Variables 11.3.2 A Monetary-Policy Experiment: RS Decrease 11.3.3 Sensitivity of Fiscal Policy Effects to Assumptions about Monetary Policy 11.3.4 Sensitivity of Fiscal Policy Effects to the Specification of the Import Equation 11.3.5 Sensitivity of the Multipliers to Alternative Coefficient Estimates 11.3.6 Multipliers from a Price Shock: PIM Increase 11.3.7 The Deficit Response to Spending and Tax Changes 11.4 Sources of Economic Fluctuations in the US Model 11.5 Optimal Choice of Monetary-Policy Instruments in the US Model 11.6 Sensitivity of Multipliers to the Rational Expectations Assumption in the US Model 11.7 Is Monetary Policy Becoming Less Effective? 11.8 What if the Fed had Behaved Differently in 1978 and 1990? |