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DISCUSSION.

Authors :
NORSWORTHY, JOHN R.
Source :
Journal of Finance (Wiley-Blackwell); Jun78, Vol. 33 Issue 3, p1001-1006, 6p, 2 Charts
Publication Year :
1978

Abstract

The article comments on three papers within the issue: "Long-Term Effects of Government Deficits on the U.S. Output Potential," by George von Furstenburg, "Capital Formation and the Recent Productivity Slowdown," by Peter Clark, and "U.S. Productivity Growth Recession: History and Prospects for the Future," by Michael McCarthy. The author discusses each article and criticizes their shortcomings. He looks at von Furstenburg's use of the Phelps-Shell model of dynamic economic growth and notes the usefulness of neoclassical growth theory. The author feels that his discussion on the effects of government deficits on output growth or productivity represent a fruitful economic analysis innovation.

Details

Language :
English
ISSN :
00221082
Volume :
33
Issue :
3
Database :
Complementary Index
Journal :
Journal of Finance (Wiley-Blackwell)
Publication Type :
Academic Journal
Accession number :
4655447
Full Text :
https://doi.org/10.1111/j.1540-6261.1978.tb02039.x