Download or read book Macroeconomic Policy Credibility and Politics written by T. Persson and published by Routledge. This book was released on 2012-11-12 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uses a game theoretic approach to explore which economic policies are 'credible' and 'politically feasible', questions that had eluded traditional macroeconomic approaches.
Download or read book Macroeconomic Policy Credibility and Politics written by Torsten Persson and published by . This book was released on 1990 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Policy Credibility and Politics Reputation and signalling written by Torsten Persson and published by . This book was released on 1990 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Policy written by Alan Marin and published by Routledge. This book was released on 2013-10-31 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1990. Routledge is an imprint of Taylor & Francis, an informa company.
Download or read book Macroeconomic Policy Credibility and Politics written by Torsten Persson and published by . This book was released on 2007 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary and Fiscal Policy Politics written by Torsten Persson and published by MIT Press. This book was released on 1994 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first of two volumes on a theory of macroeconomic policy that analyzes which policies are credible or politically feasible. Instead of looking at policy as an end product, the contributors approach policy as an ongoing process of revised goals, changes in tactics, and political pressures. They consider what kinds of incentives within different institutional settings, drive policy-making and the behaviour of policy-makers. The approach explains why certain monetary and fiscal policies are implemented, and provides insights into situations that occur repeatedly in macroeconomic policy, such as the bias toward government deficits, partisan competition and central bank independence.
Download or read book Coalition Politics and Economic Development written by Irfan Nooruddin and published by Cambridge University Press. This book was released on 2010-12-02 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coalition Politics and Economic Development challenges the conventional wisdom that coalition government hinders necessary policy reform in developing countries. Irfan Nooruddin presents a fresh theory that institutionalized gridlock, by reducing policy volatility and stabilizing investor expectations, is actually good for economic growth. Successful national economic performance, he argues, is the consequence of having the right configuration of national political institutions. Countries in which leaders must compromise to form policy are better able to commit credibly to investors and therefore enjoy higher and more stable rates of economic development. Quantitative analysis of business surveys and national economic data together with historical case studies of five countries provide evidence for these claims. This is an original analysis of the relationship between political institutions and national economic performance in the developing world and will appeal to scholars and advanced students of political economy, economic development and comparative politics.
Download or read book Credibility of Policies Versus Credibility of Policymakers written by Mr.Paul R. Masson and published by International Monetary Fund. This book was released on 1994-05-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard models of policy credibility, defined as the expectation that an announced policy will be carried out, emphasize the preferences of the policymaker, and the role of tough policies in signalling toughness and raising credibility. Whether a policy is carried out, however, will also reflect the state of the economy. We present a model in which a policymaker maintains a fixed parity in good times, but devalues if the unemployment rate gets too high. Our main conclusion is that if there is persistence in unemployment, observing a tough policy in a given period may lower rather than raise the credibility of a no-devaluation pledge in subsequent periods. We test this implication on data for the interest rate differential between France and Germany and find support for our hypothesis.
Download or read book A History of Macroeconomic Policy in the United States written by John H. Wood and published by Routledge. This book was released on 2009-01-13 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the controlling influences that drive macroeconomic policies in the United States. It addresses the history of the interests, ideas, and practices of monetary and fiscal policies in the United States.
Download or read book Confidence Credibility and Macroeconomic Policy written by Richard Burdekin and published by . This book was released on 1995 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors explore the interaction between confidence and the credibility of the government's financial policies. It will be an invaluable guide for all those interested in macroeconomic policy.
Download or read book Political Economy in Macroeconomics written by Allan Drazen and published by Princeton University Press. This book was released on 2000 with total page 790 pages. Available in PDF, EPUB and Kindle. Book excerpt: Allan Drazen focuses on the implications of political and economic outcomes rather than polictical and public choice per se limiting his coverage to macroeconomics.
Download or read book Confidence Credibility and Macroeconomic Policy written by Richard Burdekin and published by Routledge. This book was released on 2003-09-02 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The results of macroeconomic policy are often unpredictable. One of the major reasons for this is the importance of confidence and expectations in economic affairs. Confidence, Credibility and Macroeconomic Policy explores this interaction between confidence and expectations, and the credibility of the government's financial policies. The volume is divided into three parts. * An overview of the inter-relationship between fiscal policy, credibility and inflation * Empirical research on the importance of public confidence and expectations to the success of fiscal and monetary policy. * The definition and functions of consumer confidence as it is measured today. Confidence, Credibility and Macroeconomic Policy will be an invaluable guide for all those interested in macroeconomic policy.
Download or read book Political Credibility and Economic Development written by Silvio Borner and published by Springer. This book was released on 2016-07-27 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why have the economies of some developing countries fallen back while others have advanced? Why have so many stabilization and structural adjustment programs failed to deliver growth dividends? This book shows that there is a common and valid answer: political credibility defined as the predictability of the institutional rules of the game. This case is not only argued theoretically but also found to be confirmed by empirical analysis. Ten case studies pitting Latin American countries against Southeast Asian ones reveal the sources of political credibility. Economic openness is the necessary precondition, long-term reputation or democratic participation the sufficient one. Despite the seemingly superior strength of authoritarian reputation democratic control is the more successful road.
Download or read book Political Economics and Macroeconomic Policy written by Torsten Persson and published by . This book was released on 1997 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys the recent literature on the theory of macroeconomic policy. We study the effect of various incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and divided government. The survey is organized in three parts. Part I deals with monetary policy in a simply Phillips curve model: it covers credibility issues, political business cycles, and optimal design of monetary institutions. Part II deals with fiscal policy in a dynamic general equilibrium set up: the main topics here are credibility of tax policy, and political determinants of budget deficits. Part III studies economic growth in models with endogenous fiscal policy.
Download or read book International Economic Policy Coordination written by Centre for Economic Policy Research (Great Britain) and published by CUP Archive. This book was released on 1985 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents some of the best current research on international economic policy coordination.
Download or read book Monetary Policy and Macroeconomic Stabilization written by Ole Roste and published by Routledge. This book was released on 2017-09-08 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a fundamental review and critique of activist economic policies, this book is a unique contribution to classical political economy. "Monetary Policy and Macroeconomic Stabilization" is about macroeconomic stabilization policy, with emphasis on the value of a distinct national monetary policy to growth. Ole Bjorn Roste's argument is for public officials to restrain themselves in the pursuit of policy. As the author notes: when you know less, you should do less.The history of modern macroeconomics started in 1936 with the publication of Keynes' "General Theory of Employment, Interest, and Money". The problems of the Great depression of the 1930s paved the way for a change of focus, from the long run to economic fluctuations in the short run, and from nominal to real variables, such as unemployment and aggregate output.Keynes offered clear policy implications in tune with the times. Because economic adjustment was slow, waiting for the economy to recover by itself was irresponsible. Particularly fiscal policy was essential to return to high employment. Monetary policy could affect aggregate demand through Interest rates, but was less important. Roste discusses the role of monetary policy, starting out with the implications of the theory of optimum currency areas (OCAs). This is followed by estimates of the output loss associated with disinflation policy (the sacrifice ratio) for six OECD economies. Further, Roste models the dynamic adjustment to negative, local labor-market shocks, with particular relevance to Scandinavia, in a final section.The idea that governments should pursue stabilizing fiscal or monetary policies with regard to real variables is often taken for granted by the public, if not by economists. Among the reasons for skepticism, is the presence of differing views on how economies really work, that the state of a given economy becomes known only after a time lag, and that economic agents react to policy and expectations of policy. For these reasons, the effects of policy are generally uncertain. This book explains why the role of history is critical to the study of macroeconomics.p>
Download or read book Currency Politics written by Jeffry A. Frieden and published by Princeton University Press. This book was released on 2014-12-28 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: The politics surrounding exchange rate policies in the global economy The exchange rate is the most important price in any economy, since it affects all other prices. Exchange rates are set, either directly or indirectly, by government policy. Exchange rates are also central to the global economy, for they profoundly influence all international economic activity. Despite the critical role of exchange rate policy, there are few definitive explanations of why governments choose the currency policies they do. Filled with in-depth cases and examples, Currency Politics presents a comprehensive analysis of the politics surrounding exchange rates. Identifying the motivations for currency policy preferences on the part of industries seeking to influence politicians, Jeffry Frieden shows how each industry's characteristics—including its exposure to currency risk and the price effects of exchange rate movements—determine those preferences. Frieden evaluates the accuracy of his theoretical arguments in a variety of historical and geographical settings: he looks at the politics of the gold standard, particularly in the United States, and he examines the political economy of European monetary integration. He also analyzes the politics of Latin American currency policy over the past forty years, and focuses on the daunting currency crises that have frequently debilitated Latin American nations, including Mexico, Argentina, and Brazil. With an ambitious mix of narrative and statistical investigation, Currency Politics clarifies the political and economic determinants of exchange rate policies.
