Macroeconomic Policy: Inflation, Wealth and the Exchange Rate - Couverture rigide

Weale, Martin; Blake, Andrew; Christodoulakis, Nicos; Meade, James; Vines, David

Couverture rigide

ISBN 10 : 0044454287 ISBN 13 : 9780044454281

Editeur : Routledge, 1989

Synopsis

This book is an attempt to present a package of ideas for application to macroeconomic decision-making in open economies. These ideas are tried out on an economic model of one particular economy, the United Kingdom, with simulated reruns of history for the UK economy over the years 1975-1990. As well as presenting new proposals suggestions are compared extensively with ideas for reform put forward by others. Technical aspects of the work are described.

A propos du livre

Présentation de l'éditeur

This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market.

Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.

 

Détails de l'édition

• Éditeur: Routledge
• Date d'édition: 1989
• Langue: anglais
• ISBN 10: 0044454287
• ISBN 13: 9780044454281
• Reliure: Relié
• Nombre de pages: 260
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible