El Disminuidor keynesiano
DOI:
https://doi.org/10.30800/mises.2023.v11.1462Palabras clave:
Multiplicador keynesiano, Velocidad de ingreso del dinero, Ecuación cuantitativa, Recursos inactivosResumen
El multiplicador keynesiano del gasto se considera comúnmente un mecanismo que amplifica la política fiscal o monetaria expansiva. Sin embargo, una vez que los supuestos en los que se basa el multiplicador se aplican a la clásica ecuación cuantitativa, resulta evidente que el multiplicador keynesiano es mucho más pesimista a este respecto que la ecuación cuantitativa. A la luz de esta comparación, tiene mucho más sentido hablar del "disminuidor" keynesiano que del "multiplicador". La razón del sesgo pesimista del multiplicador puede detectarse mejor si se hace la distinción entre una medida de política expansiva de una sola vez y una permanente. Es sólo por este sesgo pesimista que el "multiplicador" keynesiano puede ser usado para justificar programas de gasto gubernamental permanentes.
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