Accession Number : AD0615707

Title :   FULL EMPLOYMENT POLICY AND ECONOMIC GROWTH,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Nelson,Richard R.

Report Date : MAY 1965

Pagination or Media Count : 24

Abstract : Within the context of a simple aggregative model, the 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 fiscal and monetary policies needed to achieve and maintain full employment. 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 neoKeynesian 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 roles of physical investment are both recognized. (Author)

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

Distribution Statement : APPROVED FOR PUBLIC RELEASE