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Business Cycle Dynamics and Stabilization Policies: A Keynesian Approach - Couverture souple

Livre 10 sur 26: Advances in Japanese Business and Economics

Hori, Hajime

 
9789811097843: Business Cycle Dynamics and Stabilization Policies: A Keynesian Approach
Couverture souple
ISBN 10 : 9811097844 ISBN 13 : 9789811097843
Editeur : Springer, 2018

Synopsis

This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Éditeur
Springer
Date d'édition
2018
Langue
anglais
ISBN 10 
9811097844
ISBN 13 
9789811097843
Reliure
Broché
Nombre de pages
156
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