Macroeconomic policy and public choice with 42 tables
enth.
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| 1. Verfasser: | |
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| Weitere Verfasser: | |
| Format: | UnknownFormat |
| Sprache: | eng |
| Veröffentlicht: |
Berlin, Heidelberg u.a.
Springer
c1999
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| Ausgabe: | Study ed. |
| Schlagworte: | |
| Online Zugang: | Inhaltsverzeichnis Cover Inhaltstext |
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| Zusammenfassung: | enth. ubject of this book is the intersection between political science and macroeconomics. The central idea is the existence of a political economic equilibrium in which the government acts to dampen the business cycle. The election cycle implies that this equilibrium may be a cycle rather than a point. An extension of new Keynesian theory provides a model of endogenous stabilization in which the government practices short-run stabilization policy which dampens the impact of exogenous shocks. This is a situation in which rational voters favor discretionary policy over a fixed policy rule even with rational economic agents. Special attention is given to the relevant data and to the poss¤ibilities of hypothesis testing. |
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| Beschreibung: | Literaturverz. S. [263] - 272 |
| Beschreibung: | XVII, 275 S. graph. Darst. |
| ISBN: | 3540648720 3-540-64872-0 |