Feedback pp 12-16 | Cite as

Feedback: A Familiar Idea

Part of the Advanced Studies in Theoretical and Applied Econometrics book series (ASTA, volume 10)


Feedback is a familiar idea that has worked well in macroeconomic policy for fifty years under the name of automatic stabilizers. They are called automatic stabilizers because they go into effect without action by Congress or the Administration. Of these policies unemployment compensation is the most prominent but the stabilizing effect of income taxes is also well known. This chapter will discuss automatic stabilizers currently in use as well as a variety of other feedback policies that have been proposed but not passed into law.


Federal Reserve Government Spending Macroeconomic Policy Automatic Stabilizer Unemployment Compensation 
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© Martinus Nijhoff Publishers, Dordrecht 1988

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