This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window

Journal of Economic Perspectives: Vol. 10 No. 3 (Summer 1996)

Expand

Quick Tools:

Print Article Summary
Export Citation
Sign up for Email Alerts Follow us on Twitter

Explore:

JEP - All Issues


Keynesianism, Pennsylvania Avenue Style: Some Economic Consequences of the Employment Act of 1946

Article Citation

De Long, J Bradford. 1996. "Keynesianism, Pennsylvania Avenue Style: Some Economic Consequences of the Employment Act of 1946." Journal of Economic Perspectives, 10(3): 41-53.

DOI: 10.1257/jep.10.3.41

Abstract

The Employment Act of 1946 created the Council of Economic Advisers (CEA)--and served as a convenient marker of the government's acceptance of the burden of stabilizing the macroeconomy. The willingness of post-WWII governments to let automatic stabilizers function in recessions may well have moderated the post-WWII business cycle. The CEA has also served as an advocate of allocative efficiency in economic policy. Its relative success can be primarily ascribed to Chairman Arthur Burns, who hired a CEA staff composed of short-term appointees whose principal loyalty was to economic rationality.

Article Full-Text Access

Full-text Article (Complimentary)

Authors

De Long, J. Bradford (U CA, Berkeley)

JEL Classifications

E60: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
N12: Economic History: Macroeconomics; Growth and Fluctuations: U.S.; Canada: 1913-
N42: Economic History: Government, War, Law, and Regulation: U.S.; Canada: 1913-

Comments

View Comments on This Article (0) | Login to post a comment


Journal of Economic Perspectives


Quick Tools:

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

JEP - All Issues

Virtual Field Journals


AEA Member Login:


AEAweb | AEA Journals | Contact Us