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Author : Klaus Schmidt-Hebbel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4./5 ( download)
Download or read book Fiscal Policy in Classical and Keynesian Open Economies written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Klaus Schmidt-Hebbel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.:/5 (318 download)
Download or read book Fiscal Policy in Classical and Keynesian Open Economies written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on 1994 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this model of classical and Keynesian open economies, both permanent and transitory disturbances cause changes in long- run output and capacity - and transitory and permanent shocks may have opposite effects on the current account. In the Keynesian economy, money- financed fiscal expansion causes real exchange rate depreciation; and non-money- financed fiscal expansion, appreciation.
Author : Farrokh Langdana
Publisher : Springer Science & Business Media
ISBN 13 : 0387776664
Total Pages : 298 pages
Book Rating : 4.3/5 (877 download)
Download or read book Macroeconomic Policy written by Farrokh Langdana and published by Springer Science & Business Media. This book was released on 2009-04-05 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an applications-oriented text that demystifies the linkages between monetary and fiscal policies and key macroeconomic variables such as income, unemployment, inflation and interest rates. Specially written "newspaper" articles simulate current macroeconomic news on asset-price bubbles, exchange rates, hyperinflation and more. Exercises and diagrams, and a global perspective – incorporating both developed and emerging economies - make this a broadly useful, real-world oriented text on a complex and shifting subject.
Author : Richard Hemming
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Effectiveness of Fiscal Policy in Stimulating Economic Activity written by Richard Hemming and published by International Monetary Fund. This book was released on 2002-12 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical and empirical literature on the effectiveness of fiscal policy. The focus is on the size of fiscal multipliers, and on the possibility that multipliers can turn negative (i.e., that fiscal contractions can be expansionary). The paper concludes that fiscal multipliers are overwhelmingly positive but small. However, there is some evidence of negative fiscal multipliers.
Author : Stephen A. Marglin
Publisher : Harvard University Press
ISBN 13 : 0674971027
Total Pages : 921 pages
Book Rating : 4.6/5 (749 download)
Download or read book Raising Keynes written by Stephen A. Marglin and published by Harvard University Press. This book was released on 2020-07-14 with total page 921 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back to the future: a heterodox economist rewrites Keynes's General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century. John Maynard Keynes's General Theory of Employment, Interest, and Money was the most influential economic idea of the twentieth century. But, argues Stephen Marglin, its radical implications were obscured by Keynes's lack of the mathematical tools necessary to argue convincingly that the problem was the market itself, as distinct from myriad sources of friction around its margins. Marglin fills in the theoretical gaps, revealing the deeper meaning of the General Theory. Drawing on eight decades of discussion and debate since the General Theory was published, as well as on his own research, Marglin substantiates Keynes's intuition that there is no mechanism within a capitalist economy that ensures full employment. Even if deregulating the economy could make it more like the textbook ideal of perfect competition, this would not address the problem that Keynes identified: the potential inadequacy of aggregate demand. Ordinary citizens have paid a steep price for the distortion of Keynes's message. Fiscal policy has been relegated to emergencies like the Great Recession. Monetary policy has focused unduly on inflation. In both cases the underlying rationale is the false premise that in the long run at least the economy is self-regulating so that fiscal policy is unnecessary and inflation beyond a modest 2 percent serves no useful purpose. Fleshing out Keynes's intuition that the problem is not the warts on the body of capitalism but capitalism itself, Raising Keynes provides the foundation for a twenty-first-century macroeconomics that can both respond to crises and guide long-run policy.
Author : Andrew A. Stevenson
Publisher : Rl Innactive Titles
ISBN 13 :
Total Pages : 424 pages
Book Rating : 4.:/5 ( download)
Download or read book Macroeconomic Theory and Stabilisation Policy written by Andrew A. Stevenson and published by Rl Innactive Titles. This book was released on 1988 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role and conduct of macroeconomic policy is examined in the light of recent developments in theory. The first Chapter of the book is concerned with the debate about the nature and causes of unemployment and inflation. The second section investigates the theory of monetary and fiscal policy in closed and open economics. The final chapter contains a full analysis of macroeconomic interdependence and policy coordination. For advanced undergraduate and postgraduate students of macroeconomic theory and policy. Contents: Introduction: The Theory of Aggregate Demand; Classical Versus Keynesian Economics: The Debate on Underemployment Equilibrium; Aggregate Supply: Monetarism and New Classical Macroeconomics; Aggregate Supply and Stabilization Policies: The Keynesian Perspective; Money, Financial Markets, and Aggregate Demand; Fiscal Policy and Aggregate Demand; Macroeconomic Policy and the Balance of Payments; Macroeconomic Policy and the Exchange Rate; The Design of Macroeconomic Policy; International Interdependence and Policy Coordination; Bibliography; Author Index; Subject Index.
Author : Shahdad Naghshpour
Publisher : Business Expert Press
ISBN 13 : 1606497235
Total Pages : 147 pages
Book Rating : 4.6/5 (64 download)
Download or read book Fiscal Policy within the IS-LM Framework written by Shahdad Naghshpour and published by Business Expert Press. This book was released on 2014-01-17 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: Undoubtedly, what happens to the economy affects the lives of the citizens of a country, and often the lives of people in other countries around the globe. In addition to natural disasters two things affect the economy more than anything else: monetary and fiscal policies. Fiscal policy and monetary policy represent forms of government intervention to influence market performance. Fiscal policy relates to government spending and revenue collection; monetary policy relates to the supply of money, which is controlled by factors such as reserve requirements and interest rates. If there were a universally accepted set of rules that prescribe appropriate actions to bring and sustain prosperity to the economy the study of economics would have been a positive science, as opposed to a collection of normative beliefs. The study of these policies is normative in nature because fiscal and monetary policies do not necessarily impact everyone equally or in the same way. In other words not everybody loses or gains equally as the result of fiscal and monetary policies. Nevertheless, there are non-normative economic theories that explain the expected outcome of specific fiscal or monetary policies. The economists that advocate for fiscal or monetary policies generally agree on the economic consequences produced by each policy when implemented. What differentiates the economists is the degree to which they believe in the effectiveness of the policy, their ability to know the extent of the need that it is intended to address, the proper amount of intervention required in order to effect the desired correction, and the length of the time it would take to see the consequence of the policy. This book covers fiscal policy. It is part of a projected two volume set covering fiscal and monetary policies. The two volumes will be written to be complimentary to but independent of each other.
Author : Alan T. Peacock
Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.3/5 (91 download)
Download or read book The Economic Theory of Fiscal Policy written by Alan T. Peacock and published by . This book was released on 1971 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Review of the economics of fiscal policy which takes account of some major post-keynesian developments in macroeconomic models.
Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
ISBN 13 : 1475566980
Total Pages : 60 pages
Book Rating : 4.4/5 (755 download)
Download or read book Finance & Development, September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Author : Partha Sen
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (535 download)
Download or read book Fiscal Policy in a Dynamic Open-economy New-keynesian Model written by Partha Sen and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Maynard Keynes
Publisher : Springer
ISBN 13 : 3319703447
Total Pages : 404 pages
Book Rating : 4.3/5 (197 download)
Download or read book The General Theory of Employment, Interest, and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Author : Philip Arestis
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.3/5 (121 download)
Download or read book Post Keynesian Economic Theory written by Philip Arestis and published by . This book was released on 1985 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This collection of major new essays offers a full range of alternative ways of looking at the economy. The alternatives adopted here focus on the post-Keynesian body of thought. The authors call into question the traditional ways of thinking on a number of economic issues... The essays offered here represent a serious challenge to the prevailing orthodoxies and demand new ways of thinking about economics."--p. [4] of cover.
Author : Richard C. Marston
Publisher :
ISBN 13 :
Total Pages : 114 pages
Book Rating : 4.0/5 ( download)
Download or read book Stabilization Policies in Open Economies written by Richard C. Marston and published by . This book was released on 1983 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes the theory of stabilization policy as it has developed from the trade oriented models of the 1950's to the recent models employing rational expectations. Throughout the study one model is presented with appropriate modifications to take into account international capital mobility, wage flexibility, and rational expectations. The Mundell-Fleming model is presented but with an asset sector based on modern portfolio theory. This same model is analyzed under conditions of full wage and price flexibility, and the propositions associated with the monetary approach to the balance of payments and the exchange rate are discussed. A simplified version of the model is then used to examine the policy ineffectiveness propositions of the new classical economics (as applied to open economies). The study concludes with a brief review of the literature on the choice between exchange rate regimes.
Author : Alan S. Blinder
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.3/5 (555 download)
Download or read book Does Fiscal Policy Matter? written by Alan S. Blinder and published by . This book was released on 1972 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jordi Galí
Publisher : Princeton University Press
ISBN 13 : 1400866278
Total Pages : 295 pages
Book Rating : 4.4/5 (8 download)
Download or read book Monetary Policy, Inflation, and the Business Cycle written by Jordi Galí and published by Princeton University Press. This book was released on 2015-06-09 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
Author : Jerome L. Stein
Publisher : Wiley-Blackwell
ISBN 13 : 9780631135753
Total Pages : 228 pages
Book Rating : 4.1/5 (357 download)
Download or read book Monetarist, Keynesian, and New Classical Economics written by Jerome L. Stein and published by Wiley-Blackwell. This book was released on 1982-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unsettled state of macroeconomics; The structural equations of a general macrodynamic model; The three gospels; Empirical analysis; Monetary and fiscal policy in a growing economy.
Author : Elizabeth Chapin Bogan
Publisher :
ISBN 13 : 9780314258670
Total Pages : 600 pages
Book Rating : 4.2/5 (586 download)
Download or read book Macroeconomics written by Elizabeth Chapin Bogan and published by . This book was released on 1987 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the classical and Keynesian Theory, aggregate supply and demand; government, householes, and business; finance, money, and the economy; inflation and unemployment; fluctuation, growth and policy; the open economy.
