Read full paper at: http://www.scirp.org/journal/PaperInformation.aspx?PaperID=51620#.VHKJvGfHRK0 Author(s) Kazuki Hiraga Affiliation(s) School of Political Science and Economics, Tokai University, Kanagawa, Japan . ABSTRACT This paper investigates how much externality of human capital a la on-the-job training resolves the fiscal policy puzzle that is consistent with the empirical evidences which obtain the positive response of consumption and wage to increase of fiscal spending in general equilibrium model. KEYWORDS Fiscal Policy Puzzle , Human Capital , General Equilibrium Model Cite th...
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