Name: The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (en Inglés)
SKU: 4381179
Price: 64.55 USD
Availability: InStock
Author: Modigliani, Franco
ISBN: 9780521189705

portada The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (en Inglés)

The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (en Inglés)

Formato

Libro Físico

Autor

Franco Modigliani

Editorial

Cambridge University Press

Año

2011

Idioma

Inglés

N° páginas

292

Encuadernación

Tapa Blanda

Dimensiones

23.4x15.6x1.5 cm

Peso

0.41 kg.

ISBN13

9780521189705

Categorías

Política y gobierno
Macroeconomía
Economía del desarrollo y economías emergentes

The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (en Inglés)

Franco Modigliani (Autor) · Cambridge University Press · Tapa Blanda

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Reseña del libro "The Debate Over Stabilization Policy Paperback (Raffaele Mattioli Lectures) (en Inglés)"

This 1986 book examines some of the main issues that have characterized macroeconomics: the debate between 'monetarists' and 'Keynesians'; the response to demand shocks and supply shocks, by which the monetary authorities control aggregrate nominal income and the use and relevance of the money supply as a target; and the consumption function and the determinants of wealth. It shows that Keynesian stabilization policies succeeded in reducing instability due to demand shocks dramatically, but that no aggregrate demand policy can stabilize both price and employment simultaneously after a supply shock. However, by assigning an overall 'social cost' to (excess) unemployment and (initially) unexpected inflation, an optimism path can be derived. In looking at the consumption function and determinants of wealth the empirical evidence is shown to be most consistent with the life-cycle hypothesis. A concluding section is devoted to the impact on private and national society of the 'social security revolution'.