Intertemporal macroeconomics : deficits, unemployment, and growth /
This book is concerned with the long-run effects of budgetary and financial policy on aggregate demand and supply. Here the long run is characterized by the accumulation of public debt and foreign assets. This gives rise to a number of questions. Will the long-run equilibrium be stable? What does lo...
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| Format: | eBook |
| Language: | English |
| Published: |
Heidelberg ; New York :
Physica-Verlag,
[1998]
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| Series: | Contributions to economics.
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | This book is concerned with the long-run effects of budgetary and financial policy on aggregate demand and supply. Here the long run is characterized by the accumulation of public debt and foreign assets. This gives rise to a number of questions. Will the long-run equilibrium be stable? What does long-run instability imply? Is the long-run multiplier smaller than the short-run multiplier? Can the long-run multiplier become negative? This book takes a new approach to macroeconomic policy. It assumes a growing economy, as opposed to a stationary economy. And it assumes that the government fixes the deficit rate, as opposed to the tax rate. It is argued that economic growth is an important factor of long-run stability. Similarly, it is argued that a fixed deficit rate is an important factor of long-run stability. |
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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (240 pages) : illustrations. |
| Format: | Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |
| Bibliography: | Includes bibliographical references (pages 231-240). |
| ISBN: | 9783642470233 (electronic bk.) 3642470238 (electronic bk.) |