The policy-ineffectiveness proposition (PIP) is a new classical theory proposed in 1975 by Thomas J. Sargent and Neil Wallace based upon the theory of...

relationship with output and employment) in the long-run. The policy ineffectiveness proposition extends the model by arguing that, since people with rational...

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conclusions about economic policymaking. An example is the policy ineffectiveness proposition developed by Thomas Sargent and Neil Wallace. If the Federal...

for countercyclical fiscal policies. Public finance Government debt Policy-ineffectiveness proposition Say's law Fiscal policy Buchanan, James M. (1976)...

McNamara fallacy Methodological individualism Newcomb's paradox Policy-ineffectiveness proposition Problem of induction Rational expectations Real business cycles...

dramatic changes in macroeconomic policy regimes. In 1975 he and Wallace proposed the policy-ineffectiveness proposition, which challenged a basic assumption...

again gives the same influences as Backhouse, saying the Policy Ineffectiveness Proposition was an especially significant statement of anti-Keynesian...

economists, even among the new classicists, do not accept the policy-ineffectiveness proposition. Another major criticism is that real business cycle models...

contributed significantly to clarifying the limits of the policy-ineffectiveness proposition. He authored three popular economics textbooks, Macroeconomics...

Harvard University Hoover Institution University of Minnesota Policy-ineffectiveness proposition Christopher A. Sims (b. 1942) Harvard University University...

Pigovian tax – Platform imperialism – Pluralism in economics – Policy-ineffectiveness proposition – Political economy – Potential output – Poverty – Poverty...

(long-run trend inflation) and not z. This is essentially the policy ineffectiveness proposition. This means in the long-run, inflation cannot induce increases...

results of new classical macroeconomics, in particular the policy-ineffectiveness proposition proposed in 1975 by Thomas J. Sargent and Neil Wallace based...

as a deviation from the rational tradition of economics. Policy ineffectiveness proposition Problem of induction Rational expectations Self-fulfilling...

clarification of the exact circumstances of the validity of the policy-ineffectiveness proposition. While he has revisited the topic since then and critically...

Penn State. In 1975, he and Thomas J. Sargent proposed the policy-ineffectiveness proposition, which refuted a basic assumption of Keynesian economics....

government intervention can or should stabilize the economy. The Policy-Ineffectiveness Proposition (1975) of Thomas J. Sargent (1943–) and Neil Wallace (1939–)...

considerably deepen our understanding of the limits of the policy-ineffectiveness proposition. Taylor then developed the staggered contract model of overlapping...

with, theories of Say's law, Ricardian equivalence, and the Policy Ineffectiveness Proposition. Noted macroeconomists such as Milton Friedman and Robert...

that monetary policy could not be used to systematically stabilize the economy. Sargent and Wallace's policy ineffectiveness proposition found that economic...

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65% of Arizona voters approved Proposition 200 (the "Drug Medicalization, Prevention and Control Act"), a drug policy reform initiative that contained...

that they hold to the first proposition". Hopkins responded that "The first proposition goes much too far. The first proposition would ascribe to us an absolute...

amendment election took place 6 November 2007. Sixteen proposed amendments (propositions) appeared on the ballot — all of which were approved by the voters. About...

individuals arrested are Black or Hispanic. The economic inefficiency and ineffectiveness of such government intervention in preventing drug trade has been criticised...

Immigration policy, including illegal immigration to the United States, was a signature issue of President Donald Trump's 2016 presidential campaign, and...

critically important drug like naloxone". In 2016, Sanders supported Proposition 61, dubbed the California Drug Price Relief Act, a measure preventing...

sexual abuse, etc. California's original Proposition 184 was later modified by 2012 California Proposition 36. In 2003, a sentence under the law was...

its rearmament policy". However, with the rising threat from Nazi Germany, and the ineffectiveness of the League of Nations, this policy eventually lost...