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 TEL  Vol.4 No.9 , December 2014
Simple Calculus of Resolving the Fiscal Policy Puzzle: The Role of Human Capital
Kazuki Hiraga
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Abstract: This paper investigates how much externality of human capital a la on-the-job training resolves the fiscal policy puzzle that is consistent with the empirical evidences which obtain the positive response of consumption and wage to increase of fiscal spending in general equilibrium model.
Keywords: Fiscal Policy Puzzle, Human Capital, General Equilibrium Model
Cite this paper: Hiraga, K. (2014) Simple Calculus of Resolving the Fiscal Policy Puzzle: The Role of Human Capital. Theoretical Economics Letters, 4, 739-742. doi: 10.4236/tel.2014.49093.
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