Why Fiscal Stimulus Programs Fail, Volume 1This book offers a series of statistical tests to determine if the crowd out problem, known to hinder the effectiveness of Keynesian economic stimulus programs, can be overcome by monetary programs. It concludes there are programs that can do this, specifically accommodative monetary policy. They were not used to any great extent prior to the Quantitative Easing program in 2008, causing the failure of many fiscal stimulus programs through no fault of
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