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Intertemporal Macroeconomics
Michael Carlberg
其他書名
Deficits, Unemployment, and Growth
出版Springer Science & Business Media, 2012-12-06
主題Business & Economics / Economics / TheoryBusiness & Economics / International / Economics & TradeBusiness & Economics / Economics / GeneralBusiness & Economics / International / General
ISBN36424702389783642470233
URLhttp://books.google.com.hk/books?id=qpLzCAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋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.