Aggregate demand shortfalls and economic freedom

Autor:	Taylor Leland Smith, Ryan H. Murphy
Rok vydání:	2017
Předmět:	Macroeconomics Economic expansion Index (economics) media_common.quotation_subject 05 social sciences Institutional economics Economic Freedom of the World Recession 0506 political science Economic freedom 0502 economics and business 050602 political science & public administration Economics 050207 economics General Economics Econometrics and Finance Aggregate demand media_common Public finance
Zdroj:	The Review of Austrian Economics. 31:111-122
ISSN:	1573-7128 0889-3047
DOI:	10.1007/s11138-017-0377-0
Popis:	Political instability is often exacerbated in periods of aggregate demand shortfall. It has been conjectured that inadequate policy responses to recessions may be inimical to free economic institutions. This paper uses the Economic Freedom of the World index as its measure of economic institutions, and finds that the change in economic freedom in the following five, ten, and fifteen years is negatively impacted by an aggregate demand shortfall as measured by negative NGDP growth.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::91bb6b2febb2afb004dbf49882582de9 https://doi.org/10.1007/s11138-017-0377-0 Zobrazit plný text záznamu Full text from SpringerLink