Search Results for author: Philip A. Ernst

Found 1 papers, 0 papers with code

Fiscal stimulus as an optimal control problem

no code implementations22 Oct 2014 Philip A. Ernst, Michael B. Imerman, Larry Shepp, Quan Zhou

During the Great Recession, Democrats in the United States argued that government spending could be utilized to "grease the wheels" of the economy in order to create wealth and to increase employment; Republicans, on the other hand, contended that government spending is wasteful and discouraged investment, thereby increasing unemployment.

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