Intertemporal Macroeconomics

Deficits, Unemployment, and Growth

By:

Michael Carlberg

Format:

Paperback / softback

Series:

Contributions to Economics

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Description

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.

Release date NZ

February 28th, 1998

Author

Michael Carlberg

Audiences

Postgraduate, Research & Scholarly
Professional & Vocational

Illustrations

X, 240 p.

Pages

240

Series

Contributions to Economics

Dimensions

155x235x13

ISBN-13

9783790810967

Product ID

12979514

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