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A Martingale Approach to the Question of Fiscal Stimulus (Michael Imerman, CGU)
A Martingale Approach to the Question of Fiscal Stimulus (Michael Imerman, CGU)
Joint work with Larry Shepp & Philip Ernst In this paper we develop a mathematical model to address an ongoing politico-economic debate between Democrats and Republicans. Democrats in the US say that government spending can be used to “grease the wheels’ of the economy, create wealth, and increase employment; the Republicans say that government spending […]