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Intertemporal macroeconomics deficits, unemployment, and growth
The focus of this book is on aggregate demand and supply in a growing economy, featuring the dynamics of public debt, foreign assets and domestic capital.
What will be the implications of various shocks and policy measures?
As a rule, we shall assume unemployment. As an exception, we shall also
consider full employment. The growing economy is characterized by population
growth and technical progress. This in turn gives rise to output growth and income growth. Against this background, we shall take the per head approach. The
dynamics of public debt, foreign assets and domestic capital has it that a budget
deficit adds to public debt, that a current account surplus adds to foreign assets,
and that domestic investment adds to domestic capital. It proves useful to do the
analysis within the framework of a growing economy.
We shall trace out the processes of adjustment induced by various shocks.
These shocks can originate in consumption, savings, investment, exports or imports; in government purchases of goods and services, budget deficits or taxation;
in money supply or the exchange rate; in money wages, the growth rate or the
foreign interest rate.
As a response to a shock, the government (the monetary authority) can take
policy measures so as to defend full employment. Here the reaction can be either
instantaneous or delayed. Endogenous fiscal policy means for instance: The government continuously adjusts its purchases and the budget deficit so as to maintain full employment. Likewise, endogenous monetary policy means: The central
bank continuously varies the quantity of money so as to keep up full employment. And endogenous exchange rate policy means: The government continuously adapts the exchange rate so as to safeguard full employment.
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| 339 CAR i | PSB lt.1 - B. Penunjang | 2 |
| Penerbit | New York: Springer 1998 |
|---|---|
| Edisi | - |
| Subjek | Macroeconomics |
| ISBN/ISSN | 3790810967 |
| Klasifikasi | NONE |
| Deskripsi Fisik | 240 p. 25 cm. |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |