Share
The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (in English)
Franco Modigliani
(Author)
·
Cambridge University Press
· Paperback
The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (in English) - Modigliani, Franco
$ 41.15
$ 45.99
You save: $ 4.84
Choose the list to add your product or create one New List
✓ Product added successfully to the Wishlist.
Go to My WishlistsIt will be shipped from our warehouse between
Friday, May 24 and
Monday, May 27.
You will receive it anywhere in United States between 1 and 3 business days after shipment.
Synopsis "The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (in English)"
This 1986 book examines some of the main issues that have characterized macroeconomics: the debate between 'monetarists' and 'Keynesians'; the response to demand shocks and supply shocks, by which the monetary authorities control aggregrate nominal income and the use and relevance of the money supply as a target; and the consumption function and the determinants of wealth. It shows that Keynesian stabilization policies succeeded in reducing instability due to demand shocks dramatically, but that no aggregrate demand policy can stabilize both price and employment simultaneously after a supply shock. However, by assigning an overall 'social cost' to (excess) unemployment and (initially) unexpected inflation, an optimism path can be derived. In looking at the consumption function and determinants of wealth the empirical evidence is shown to be most consistent with the life-cycle hypothesis. A concluding section is devoted to the impact on private and national society of the 'social security revolution'.
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
- 0% (0)
All books in our catalog are Original.
The book is written in English.
The binding of this edition is Paperback.
✓ Producto agregado correctamente al carro, Ir a Pagar.