Download or read book Microeconomic Foundations of Employment and Inflation Theory written by Edmund S. Phelps and published by New York : Norton. This book was released on 1970 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Microeconomic Foundations of Employment and Inflation Theory written by Edmund Phelps and published by . This book was released on 1970 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Microeconomic Foundations of Employment and Inflation Theory written by Edmund S. Phelps and published by . This book was released on 1974 with total page 434 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Microeconomics Foundations of Employment and Inflation Theory written by and published by . This book was released on 1970 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Microeconomic Foundations of Macroeconomics written by G.C. Harcourt and published by Routledge. This book was released on 2019-03-13 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: This discourse on the conference proceedings unveils Sir John Hicks's efforts to discuss capital/income family of concepts with their principal characteristics of inter-temporality. Papers on capital, profits, the concept of invariant capital stock and Kaleckian theory of investment are discussed.
Download or read book General Theory Of Employment Interest And Money written by John Maynard Keynes and published by Atlantic Publishers & Dist. This book was released on 2016-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Download or read book Theories of Inflation written by Helmut Frisch and published by Cambridge University Press. This book was released on 1983 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: A survey of the new theories of inflation that have developed over the past two decades in response to the inflationary pressures experienced by Western countries examines the shifting debate from explaining inflation as a "causal" process to explaining its increase as a result of constantly changing expectations.
Download or read book Macroeconomics and the Phillips Curve Myth written by James Forder and published by OUP Oxford. This book was released on 2014-10-09 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reconsiders the role of the Phillips curve in macroeconomic analysis in the first twenty years following the famous work by A. W. H. Phillips, after whom it is named. It argues that the story conventionally told is entirely misleading. In that story, Phillips made a great breakthrough but his work led to a view that inflationary policy could be used systematically to maintain low unemployment, and that it was only after the work of Milton Friedman and Edmund Phelps about a decade after Phillips' that this view was rejected. On the contrary, a detailed analysis of the literature of the times shows that the idea of a negative relation between wage change and unemployment - supposedly Phillips' discovery - was commonplace in the 1950s, as were the arguments attributed to Friedman and Phelps by the conventional story. And, perhaps most importantly, there is scarcely any sign of the idea of the inflation-unemployment tradeoff promoting inflationary policy, either in the theoretical literature or in actual policymaking. The book demonstrates and identifies a number of main strands of the actual thinking of the 1950s, 1960s, and 1970s on the question of the determination of inflation and its relation to other variables. The result is not only a rejection of the Phillips curve story as it has been told, and a reassessment of the understanding of the economists of those years of macroeconomics, but also the construction of an alternative, and historically more authentic account, of the economic theory of those times. A notable outcome is that the economic theory of the time was not nearly so naïve as it has been portrayed.
Download or read book Inflation Theory and Policy written by A.J. Hagger and published by Springer. This book was released on 1977-02-24 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation Theory anti in h written by George D. Lundberg and published by Routledge. This book was released on 2019-03-13 with total page 560 pages. Available in PDF, EPUB and Kindle. Book excerpt: The conference that is recorded in this volume derived its initial impetus and choice of subject from the Jubilee of the Swedish Riksbank which was being celebrated in 1975. AJ part of that celebration, the International Economic Association was invited to organise a conference on the very topical subject of inflation-a subject of great concern to the banking community in all countries-and the Riksbankens Jubileumsfund bore the largest share of its expenses. We are greatly indebted to Mr Kristen Rickman, Governor of the Sviriges Riksbank, for his interest and support in all the work of the con-ference.
Download or read book Inflation Theory and Anti Inflation Policy written by Erik Lundberg and published by Springer. This book was released on 1978-01-01 with total page 554 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Foundations of Economic Policy written by Nicola Acocella and published by Cambridge University Press. This book was released on 1998-10 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent developments in public economics have largely been in the direction of reaffirming the limits of the market and of establishing new ones. The possible existence of fundamental non-convexities, imperfect and asymmetric information, incentive compatibility, imperfect competition, strategic complementarity, and scale economies led to the conclusion that a large set of market failures exist; such situations also imply government failure. Acocella, considers this complicated picture and provides a discussion of the different approaches to establishing social 'rankings' of the possible situations and the underlying principles. The arguments for and against different institutions are then analysed at a micro and macroeconomic level. The market and the government are recognised as imperfect, and thus complementary, institutions. Specific policy targets and instruments are considered in the areas of micro and macro-economic policy. Special attention is devoted to questions of policy management in an open economy. Finally, problems of domestic and international policy co-ordination are considered.
Download or read book Leading Contemporary Economists written by Steven Pressman and published by Routledge. This book was released on 2008-10 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of essays offers an extensive critical review of the major contributions of key figures in contemporary heterodox economics, including comprehensive bibliographies of their writings and lists of vital secondary material.
Download or read book Methodology for a New Microeconomics Routledge Revivals written by Lawrence A. Boland and published by Routledge. This book was released on 2014-06-03 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past thirty years can be understood as ad hoc attempts to overcome the deficiencies of such models in the absence of cogent stability analyses. In conclusion, he explains the need to update the theory taught at universities, and to develop a truly individualist version of microeconomics that is consistent with the methodological principles of major neoclassical models. An important contribution to economic methodology, this work is a highly valuable resource for all students and teachers of economics at the undergraduate level.
Download or read book Macroeconomic Fluctuations and Policies written by Edouard Challe and published by MIT Press. This book was released on 2023-09-19 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: The basic tools for analyzing macroeconomic fluctuations and policies, applied to concrete issues and presented within an integrated New Keynesian framework. This textbook presents the basic tools for analyzing macroeconomic fluctuations and policies and applies them to contemporary issues. It employs a unified New Keynesian framework for understanding business cycles, major crises, and macroeconomic policies, introducing students to the approach most often used in academic macroeconomic analysis and by central banks and international institutions. The book addresses such topics as how recessions and crises spread; what instruments central banks and governments have to stimulate activity when private demand is weak; and what “unconventional” macroeconomic policies might work when conventional monetary policy loses its effectiveness (as has happened in many countries in the aftermath of the Great Recession.). The text introduces the foundations of modern business cycle theory through the notions of aggregate demand and aggregate supply, and then applies the theory to the study of regular business-cycle fluctuations in output, inflation, and employment. It considers conventional monetary and fiscal policies aimed at stabilizing the business cycle, and examines unconventional macroeconomic policies, including forward guidance and quantitative easing, in situations of “liquidity trap”—deep crises in which conventional policies are either ineffective or have very different effects than in normal time. This book is the first to use the New Keynesian framework at the advanced undergraduate level, connecting undergraduate learning not only with the more advanced tools taught at the graduate level but also with the large body of policy-oriented research in academic journals. End-of-chapter problems help students master the materials presented.
Download or read book Labor Market Adjustments in the Pacific Basin written by Peter Chinloy and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peter T. Chinloy and Ernst W. Stromsdorfer I. Background to Adjustments in Labor Markets The book examines the process of adjustment in labor markets across countries arising from external shocks and shifts in international competi tiveness. The examination of specific countries and their data permits a comparison of alternative institutions for compensating and redeploying labor. Four countries are involved, whose labor markets are both competi tive and complementary: Canada, Japan, Mexico, and the United States. Both public labor market institutions, such as direct government com~ pensation of displaced workers and the effect of unemployment insurance, and private market arrangements, such as em loyer-employee agreements on layoffs, the work contract, and severance pay, are considered. Compara tive examination across countries of labor market and related insitutions is thus possible. The book has a common theme, namely the adjustment of labor markets to exogenous shocks, particularly those externally induced. The unifying focus in on workers whose specific skills in an industry or firm render them relatively immobile.
Download or read book Inflation Dynamic written by Weshah Razzak and published by Taylor & Francis. This book was released on 2023-06-16 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains inflation dynamic, using time series data from 1960 for 42 countries. These countries are different in every aspect, historically, culturally, socially, politically, institutionally, and economically. They are chosen on the basis of the data availability only and cover the Middle East and North Africa (MENA) region, Africa, Asia, the Caribbean, Europe, Australasia, and the United States. Inflation reached double digits in the developed countries in the 1970s and 80s, and then central banks, successfully stabilized it by anchoring inflation expectations for decades, until now. Conditional on common and country-specific shocks such as oil price shocks, financial and banking and political crises, wars, pandemics, natural disasters etc., the book tests various theoretical models about the long and short run relationships between money and prices, money growth and inflation, money growth and real output, expected inflation; the output gap, fiscal policy, and inflation, using a number of parametric and non-parametric methods, and pays attention to specifications and estimations problems. In addition, it explains why policymakers in inflation – targeting countries, e.g. the U.S., failed to anticipate the recent sudden rise in inflation. And, it examines the fallibility of the Modern Monetary Theory’s policy prescription to reduce inflation by raising taxes. This is a unique and innovative book, which will find an audience among students, academics, researchers, policy makers, analysts in corporations, private and central banks and international monetary institutions.
