Ebook Download The Debate Over Stabilization Policy

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The Debate Over Stabilization Policy High quality books

The Debate Over Stabilization Policy
By:Franco Modigliani
Published on 1986-09-18 by Cambridge University Press

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'.

This Book was ranked at 35 by Google Books for keyword Monetary economics.

Book ID of The Debate Over Stabilization Policy's Books is ejEVdBGlc_EC, Book which was written byFranco Modiglianihave ETAG "PffCZiSxL+c"

Book which was published by Cambridge University Press since 1986-09-18 have ISBNs, ISBN 13 Code is 9780521267908 and ISBN 10 Code is 0521267900

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Book which have "270 Pages" is Printed at BOOK under CategoryBusiness and Economics

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