This analysis of macroeconomic policy, originally published in 1989, argues that key government objectives, such as reduced inflation, decreased unemployment and an adequate level of national saving can be achieved only by employing both monetary and fiscal policies, in conjunction with supply-side policies expressly designed to improve the workings of the labour market.
Part 1 is a comparative analysis showing the effects of monetary and fiscal policy on the economy. Real-wage rigidity in the labour market is shown to have important consequences for the working of both types of policy, because it conditions the economy’s response to tax changes. Part 2 presents an econometric model which combines consistent stock-flow accounts with a full range of expectational effects. Part 3 presents an innovative technique for solving rational expectations models with the need for arbitary terminal conditions.
By:
Martin Weale, Andrew Blake, Nicos Christodoulakis, James Meade, David Vines Imprint: Routledge Country of Publication: United Kingdom Dimensions:
Height: 234mm,
Width: 156mm,
Weight: 703g ISBN:9781138940017 ISBN 10: 1138940011 Series:Routledge Library Editions: Macroeconomics Pages: 396 Publication Date:15 September 2015 Audience:
General/trade
,
College/higher education
,
Professional and scholarly
,
ELT Advanced
,
Primary
Format:Hardback Publisher's Status: Active
Martin Weale, Andrew Blake, Nicos Christodoulakis, James Meade, David Vines