Budget Balance and Equilibrium Income

Ott, David J.; Ott, Attiat F.

doi:10.2307/2977731

Cited by 24 publications

(7 citation statements)

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“…The role of the budget balance in changing private sector wealth has only recently been emphasized; e.g. by Ott and Ott [8], Christ [2] [3], Silber [11], and Hansen [4]. This relationship fits very naturally into the Metzler structure, with its emphasis on private wealth, and it will play an important role in our analysis.…”

Section: Introductionmentioning

confidence: 89%

Flow and Stock Equilibrium in a Dynamic Metzler Model*

Branson¹,

Teigen²

1976

The Journal of Finance

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Section: Introductionmentioning

confidence: 89%

Flow and Stock Equilibrium in a Dynamic Metzler Model*

Branson¹,

Teigen²

1976

The Journal of Finance

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“…As Ott and Ott (1965) have demonstrated, these shifts will continue until the budget is balanced. Viewed from the aggregate demand perspective, the AD curve shifts left from ADo to AD, .…”

Section: Aggregate Demandmentioning

confidence: 98%

Alternative U. S. Monetary and Deficit Reduction Policies for the 1980s

Long¹,

Gardner²

1988

Journal of Money, Credit and Banking

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“…The fiscal stance, here represented as Y GT (2), had to wait until the 1960s to be developed outside the Cambridge context. There seems to be no doubt that it can be attributed to the works of Ott and Ott () and Christ () and was eventually presented as a long‐term condition. Although the use of this last ratio as the terminal equilibrium of a sequence of linked short‐period positions has had to wait until the appearance of the New Cambridge models (Godley and Cripps, , p. 111; Godley, , p. 147).…”

Section: The Three Balances and Equilibrium Ratiosmentioning

confidence: 99%

“… ‘The expenditures multiplier is, thus, the reciprocal of the marginal propensity to tax’ (Ott and Ott, , p. 74). Godley and Lavoie (, p. 72) themselves have attributed the results to those authors.…”

mentioning

confidence: 99%

Taking Godley's Ratios Seriously

Leite

2015

Metroeconomica

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This article derives the three ratios employed by Wynne Godley to argue that they can express a full stock-flow consistent model. The strategy adopted here intends to explain the theoretical consequences of including the stock of wealth in a basic Keynesian scheme. It is demonstrated that the same steady-state level of income emerges whether we treat private investment as an exogenous variable or we treat it as totally endogenous. It is also demonstrated that stability conditions and the possible patterns of a path approaching this steady-state level can be examined before simulations.* The author is grateful to Andr e Lourenço, Antonio Carlos Macedo e Silva, Claudio Hamilton dos Santos, F abio P. Leite, Lucas Teixeira, and two anonymous referees, as well as to Marc Lavoie, the editor for this article, for useful comments and suggestions. The usual caveats apply.

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Budget Balance and Equilibrium Income

Cited by 24 publications

References 0 publications

Flow and Stock Equilibrium in a Dynamic Metzler Model*

Flow and Stock Equilibrium in a Dynamic Metzler Model*

Alternative U. S. Monetary and Deficit Reduction Policies for the 1980s

Taking Godley's Ratios Seriously

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