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Author: Giovanni Di Bartolomeo
Publisher: Routledge
ISBN: 1317239407
Category : Business & Economics
Languages : en
Pages : 213
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Book Description
The recent economic events driven by the great financial crisis of 2007-08 has challenged some "dogma", highlighting various limits and drawbacks of current paradigms. The crisis showed the limitations of monetary policy and led to a revaluation of what levels of public debt can be considered safe. This volume aims to refresh the debate on some important long-run macroeconomic issues from new and fresh perspectives. Theoretical Foundations of Macroeconomic Policy raises a number of questions relating to the challenges faced by macroeconomic theory and policies. The common line is the long run and policy perspective. The first part of the book is devoted to the theory of growth and productivity. The second part concentrates on long-run effects of fiscal and monetary policy. Specifically, topics investigated by the international range of authors are the theory of optimal growth, the productivity policies and production function estimations, demand- vs. supply- driven growth, optimal debt default and the incompleteness of financial markets, the long-run optimal inflation target and its relationship with public finance, the long term effects of government budget constraints on growth, and effect on optimal policies in non-market clearing environment. The book will be of interest to postgraduates, researchers, and academics studying macroeconomics and fiscal policies.
Author: Giovanni Di Bartolomeo
Publisher: Routledge
ISBN: 1317239407
Category : Business & Economics
Languages : en
Pages : 213
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Book Description
The recent economic events driven by the great financial crisis of 2007-08 has challenged some "dogma", highlighting various limits and drawbacks of current paradigms. The crisis showed the limitations of monetary policy and led to a revaluation of what levels of public debt can be considered safe. This volume aims to refresh the debate on some important long-run macroeconomic issues from new and fresh perspectives. Theoretical Foundations of Macroeconomic Policy raises a number of questions relating to the challenges faced by macroeconomic theory and policies. The common line is the long run and policy perspective. The first part of the book is devoted to the theory of growth and productivity. The second part concentrates on long-run effects of fiscal and monetary policy. Specifically, topics investigated by the international range of authors are the theory of optimal growth, the productivity policies and production function estimations, demand- vs. supply- driven growth, optimal debt default and the incompleteness of financial markets, the long-run optimal inflation target and its relationship with public finance, the long term effects of government budget constraints on growth, and effect on optimal policies in non-market clearing environment. The book will be of interest to postgraduates, researchers, and academics studying macroeconomics and fiscal policies.
Author:
Publisher:
ISBN: 9788183765695
Category :
Languages : en
Pages : 296
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Book Description
Author: Christopher Tsoukis
Publisher: Oxford University Press
ISBN: 0192638882
Category : Business & Economics
Languages : en
Pages : 735
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Book Description
Theory of Macroeconomic Policy reviews the theoretical foundations of macroeconomic, fiscal, and monetary, policy. It offers a panoramic view of macroeconomic theory, covering a wide range of topics that are not customarily dealt with in macroeconomics texts, as well as more standard material. Advanced theory is bridged with more elementary or intermediate material, and established models are reviewed alongside current research directions. There is an extensive review of empirical evidence on virtually every topic, supplemented by narrative accounts for various episodes. The policy implications of the various theories are emphasised throughout. The chapters are largely self-contained so that different courses can focus at different places. A 'Guidance for Further Study' Section and extensive bibliography give plenty of ideas for all levels of independent study, from Undergraduate Projects to MSc Dissertations to PhD Theses. Theory of Macroeconomic Policy presents a balance between: breadth as well as depth; analytical treatment and intuition; theory and evidence; vintage theories and current directions; theory and policy; (established) theory and debate. Theory of Macroeconomic Policy is an affirmation that there is a well-developed body of theory that is invaluable for an in-depth understanding of the macro-economy and policy; equally, there is much scope for critical discussion and debate.
Author: John M. Letiche
Publisher: Academic Press
ISBN: 1483297047
Category : Business & Economics
Languages : en
Pages : 988
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Book Description
The literature on international economics has become excessively specialized. In selecting distinguished readings for this source book--including contributions by Nobel laureates such as Lawrence R. Klein, Arthur Lewis, James Meade, and Theodore W. Schultz--Professor Letiche breaks the mold. The essays concentrate on interrelation between theory and actual policy design, and this collection of classic pieces and recent economic contributions are a valued resource in universities and government offices.
Author: Frederick S. Brooman
Publisher: Routledge
ISBN: 1351519379
Category : Business & Economics
Languages : en
Pages : 429
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Book Description
Emphasizing careful, lucid explanation rather than the lavish use of cryptic graphs and mathematics, and combining the rigor of statement of the best American theoretical work with the extraordinary clarity of the best English scientific writing, this compact, readable, well-integrated work is a leading text for courses in macroeconomics. A completely rewritten version of Brooman's classic English text, the book has been revised and expanded specifically for use in the United States, with American examples and usages, and includes new chapters on money and monetary flows and their consequences. The book covers every aspect of economic theory dealing with the determination of total output and employment, the general price level, and the rate of economic growth. It examines theories of consumer behavior and business investment, the demand and supply of money and their effects on interest rates and the price level; the determination of the level of employment and wages; the possibilities of fluctuations in output and employment; and the forces making for growth of the economy. The effects of foreign trade on the domestic economy are brought in, and the possibilities of using government expenditure and taxation as a means of stabilizing the economy are examined. Theories of consumption, investment, trade, money and interest are tied together in a thorough discussion of income determination, and whenever possible, empirical evidence is produced as a check on theoretical relationships. Algebraic symbols are used as a space-saving device; none but the simplest algebra is employed, and readers with an elementary knowledge of mathematics will find no difficulty in following the argument of the book. It is organized for a one semester course, both in terms of the sequence of materials and the relative number, length, and difficulty of the chapters. The object throughout is to make the exposition highly readable and to provide clear definitions and explanations of the main concepts found in this important branch of economic theory. The result is a book of the highest level.
Author: Michael Woodford
Publisher: Princeton University Press
ISBN: 1400830168
Category : Business & Economics
Languages : en
Pages : 805
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Book Description
With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.
Author: Yair Listokin
Publisher: Harvard University Press
ISBN: 0674976053
Category : Law
Languages : en
Pages : 281
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Book Description
After 2008, private-sector spending took a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach, used in the New Deal, to harness law’s ability to function as a macroeconomic tool, stimulating or relieving demand as required under certain crisis conditions.
Author: Frederick Spencer Brooman
Publisher:
ISBN:
Category : Macroeconomics
Languages : en
Pages : 424
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Book Description
Author: Nicola Acocella
Publisher: Cambridge University Press
ISBN: 9780521586382
Category : Business & Economics
Languages : en
Pages : 546
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Book Description
Recent developments in public economics have largely been in the direction of reaffirming the limits of the market and of establishing new ones. The possible existence of fundamental non-convexities, imperfect and asymmetric information, incentive compatibility, imperfect competition, strategic complementarity, and scale economies led to the conclusion that a large set of market failures exist; such situations also imply government failure. Acocella, considers this complicated picture and provides a discussion of the different approaches to establishing social 'rankings' of the possible situations and the underlying principles. The arguments for and against different institutions are then analysed at a micro and macroeconomic level. The market and the government are recognised as imperfect, and thus complementary, institutions. Specific policy targets and instruments are considered in the areas of micro and macro-economic policy. Special attention is devoted to questions of policy management in an open economy. Finally, problems of domestic and international policy co-ordination are considered.
Author: Peter A. Diamond
Publisher: MIT Press
ISBN: 9780262040761
Category : Business & Economics
Languages : en
Pages : 96
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Book Description
Peter A. Diamond discusses search equilibrium as a framework for integrating micro and macroeconomics.
