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In this episode of Study Hall: Macroeconomics, Matt talks about the positive effects of long-run fiscal policy on the economy and society as a whole. Through long-term government investment in things like education and infrastructure, potential GDP increases as society is thriving.
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Chapters:
0:00 – Introduction
0:55 – Review of the short-run effects of fiscal policy
1:39 – Long-run fiscal policy goal 1: increasing potential GDP
6:06 – Long-run fiscal policy goal 2: increasing well-being and standard of living
7:55 – Government as an enforcer of strong institutions
10:52 – Conclusion
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