Accession Number : AD0612196

Title :   FULL EMPLOYMENT POLICY AND ECONOMIC GROWTH,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Nelson,Richard R.

Report Date : FEB 1965

Pagination or Media Count : 19

Abstract : This paper explores the relationship between the factors that determine the rate of growth of potential output -- principally labor force growth and technical advance -- and the nature of the fiscal and monetary policies needed to achieve and maintain full employment within the context of a simple aggregative model. The model attempts to integrate two strands of analysis that have developed in the literature -- a neo-classical strand stemming from Solow's work on the growth of full employment output and a neo-Keynesian strand stemming from the Harrod-Domar studies of the conditions under which full employment can be maintained when the dual demand generating and capacity creating role of physical investment are both recognized. (Author)

Descriptors :   (*ECONOMICS, LABOR), (*LABOR, ECONOMICS), MATHEMATICAL MODELS, CONSUMPTION, MONEY, INDUSTRIAL PRODUCTION, STABILIZATION

Distribution Statement : APPROVED FOR PUBLIC RELEASE