Monetary and fiscal dynamics /
The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy:...
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| Format: | eBook |
| Language: | English |
| Published: |
Heidelberg : New York :
Physica-Verlag ; Springer-Verlag,
[1992]
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| Series: | Studies in contemporary economics.
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| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
| Summary: | The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy: As a response to the shock, the central bank continuouslyadapts the quantity of money so as to keep up full employment all the time. And the government continuously accommodates its purchases of goods and services. Can this be sustained? Or will public debt tend to explode, thereby driving the stock of capial down to zero? |
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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (viii, 194 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 reference (pages 179-189) and index. |
| ISBN: | 9783642476891 (electronic bk.) 3642476899 (electronic bk.) |