difference from base difference from base
Chart 1: Long-run GDP-effect
Permanent Reduction of Government Purchases by 1 %of GDP and
.......SS
----TCD
.......NTC
------TCL
time
Chart 2: Short-run GDP-Effect
Permanent Reduction of Government Purchases by 1% of GDP and
time
.......SS
----TCD
.......NTC
------TCL
36
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