Keynesian economists (of all stripes) want fiscal policy (essentially, government budgets) to increase consumer demand. This thinking has several problems. Keynes argued, however, that money borrowed ...

Cambridge Journal of Economics, Vol. 39, No. 1 (January 2015), pp. 93-112 (20 pages) The outbreak of the financial crisis in 2008 witnessed a significant contraction in US consumption spending, as ...

This is a preview. Log in through your library . Abstract The paper solves the stochastic inverse optimal problem. Dynamic programming is used to transform the original problem into a differential ...