Aggregate demand shortfalls and economic freedom

被引：10

作者：

Murphy, Ryan H. ^{[1
,2
]}

Smith, Taylor Leland ^{[3
]}

机构：

[1] Southern Methodist Univ, Dallas, TX 75205 USA

[2] SMU Cox Sch Business, POB 750333, Dallas, TX 75275 USA

[3] Texas Tech Univ, Lubbock, TX 79409 USA

来源：

REVIEW OF AUSTRIAN ECONOMICS | 2018年 / 31卷 / 01期

关键词：

Economic institutions; Voting behavior; Economic freedom; Macroeconomic political economy;

D O I：

10.1007/s11138-017-0377-0

中图分类号：

G40 [教育学];

学科分类号：

040101 ; 120403 ;

摘要：

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.

引用

页码：111 / 122

页数：12

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