TITLE

THE ROCKEFELLER REPORT: IMPLICATIONS FOR FISCAL AND MONETARY POLICY

AUTHOR(S)
Smithies, Arthur
PUB. DATE
August 1958
SOURCE
Quarterly Journal of Economics;Aug58, Vol. 72 Issue 3, p472
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article discusses the implications of the Rockfeller Report on the U.S. economy for the methods to be used in determining fiscal and monetary policy. According to the author, the Report's use of a ten year projection of the expenditure requirements of all levels of the government as the starting point for the determination of the policy contradicts the traditional practice since the federal budget rarely project more than one year in advance and Employment Act of 1946 is more concerned with employment and purchasing power in the immediate future than with the longer run. In addition, the estimation of decade total government expenditures and the consideration of private consumption were explored by the author.
ACCESSION #
7696108

 

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