Описание: This book is an English language version of Politique economique, previously published in French by De Boeck & Larcier. It fills a major gap by presenting stylized facts and key questions for modern economic policy together with the essential theoretical tools in major policy fields: fiscal policy, monetary policy, international finance, tax policy, and long-term growth. The causes and lessons of the financial crisis are addressedcomprehensively.
Описание: This book aims to start a debate on the relationship between economic theory – and more precisely business cycle theory – and economic policy, emphasising the diversity of views on economic policy which characterised older periods, in contrast to the homogeneity of the analysis and diagnosis provided by current business cycles developments. Since the 1970s, economic theorists excluding any economic policy interventions and favouring strictly supply-side economic policies have gained a growing influence. The development of Equilibrium Business Cycles theories coincides with the collapse, at least in academic circles, of the Keynesian consensus favouring stabilization policies. The alternative approach which emerged was based on an a priori hypothesis about the stability of the economy – or at least on its remarkable ability to stabilize itself. The direct consequence of this approach is that any stabilization objective for economic policy is not only misguided but also inefficient. There are many reasons why Keynesian policies ceased to be dominant in theoretical circles, but the most helpful circumstances for the rapid propagation of a new revolutionary theory is certainly the existence of an established orthodoxy, clearly inconsistent with the most salient facts of reality. This book offers a sample of different theoretical approaches to business cycles, examining their respective views on economic policy with the objective of understanding business cycles that have been lost, and identifying those views which explain fluctuations and the way we conceive economic policy. This book was originally published as a special issue of The European Journal of the History of Economic Thought.
Описание: We review standard economic growth models concentrating on the relationship between population ageing and economic growth and develop a growth model with endogenous human capital and endogenous fertility. With this model we analyse the effects of education policy and family policy on economic growth. The main result for economic policy is that education policy boosts human capital and thus economic growth only in the short-term (i.e. during the transition phase towards the steady state). To boost economic growth in the long-term (i.e. when the economy has reached its steady state), it is necessary to employ family policy as this increases both the fertility rate and the time individuals spend accumulating human capital. The main result for economic growth theory is that steady state economic growth is not possible when population is ageing. Steady state growth is only possible if the age structure of the population is constant.
Описание: This collection puts forward promising reinterpretations of the primary schools of heterodox political economy, stringent critiques of the conventional readings of the recession, new schemes of theoretical and empirical analysis of the crisis, and proposals for economic policies alternative to those hitherto adopted.
Автор: David de la Croix Название: A Theory of Economic Growth ISBN: 0521806429 ISBN-13(EAN): 9780521806428 Издательство: Cambridge Academ Рейтинг: Цена: 6973 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Provides an in-depth treatment of the overlapping generations model in economics incorporating production. Chapter 1 investigates competitive equilibria and corresponding dynamics: existence and uniqueness of equilibrium, global dynamics of capital (including poverty traps), and various extensions of the model. Chapter 2 analyzes the optimality of allocations in this framework, using both the value function and marginal approaches. Optimality with unbounded growth is also analyzed. Policy issues including the Second Welfare Theorem, pensions, government spending, and optimal taxation, are discussed in chapter 3. The notion of public debt is introduced in chapter 4 and the sustainability of policies with budget deficits/surpluses is examined. The last chapter presents extensions of the model including altruism, education/human capital, and habit formation. Methodological emphasis is put on using general preferences and technologies, on the global study of dynamic aspects of the model, and on furnishing adequate tools to analyze policies involving inter-generational transfers.
Автор: Richard H. Day Название: The Divergent Dynamics of Economic Growth ISBN: 0521830192 ISBN-13(EAN): 9780521830195 Издательство: Cambridge Academ Рейтинг: Цена: 7494 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book explains how changing technology and economizing behaviour induce vast changes in productivity, resource allocation, labour utilization, and
patterns of living. Economic growth is seen as a process by which businesses, regimes, countries, and the whole world pass through distinct epochs, each one emerging from its
predecessor, each one creating the conditions for its successor. Viewed from a long-run perspective, growth must be characterized as an explosive process, marked by turbulent
transitions in social and political life as societies adapt to new opportunities, the demise of old ways of living, and to the vast increase and redistribution of human populations.
The book is based on a synthesis of classical economics and contemporary concepts of adaptation and economic evolution. Although it is based on analytical methods, the text has
been stripped of all equations and with few exceptions is devoid of technical jargon.
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