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Cambridge Studies in Comparative Politics : Macroeconomic Policies of Developed Democracies - Robert J. Franzese, Jr.

Cambridge Studies in Comparative Politics

Macroeconomic Policies of Developed Democracies

Hardcover Published: 25th February 2002
ISBN: 9780521802949
Number Of Pages: 332

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This book synthesizes and extends modern political-economic theory to explain the postwar evolution of macroeconomic policy in developed democracies. Chapters II-IV study transfers, debt, and monetary/wage policy-making and outcomes, stressing that participation enhances transfer-policy responsiveness to inequality and vice versa, that policy-making veto actors retard fiscal-policy adjustments, inducing greater long-run debt-responses to all other political-economic stimuli, and that monetary policy's nominal and real effects depend, respectively, on the broader political-economic interest-structure and on wage-price bargainers' sectorial composition and coordination. Broadly, the book argues that these developments have exacerbated the distributional conflicts inherent in the policies to which postwar governments had committed while undermining their more-universally desired efficiency-fostering roles. Battles that once raged primarily over policies conducted within postwar-commitment frameworks now rage over the putative 'reforms' of the frameworks that will set the institutional rules within which democratic struggle over macroeconomic policy and free-market competition will continue.

"[A] masterly treatment of post-war economic management in advanced industrial democracies." Journal of Politics "Robert J. Franzese, Jr. has written an excellent book tha is part of the informative Cambridge Studies in Comparative Politics series...Franzese's book needs to be read by political economists, as it will make a significant contribution to the field." Perspectives on Politics

List of Tables and Figuresp. xi
Prefacep. xvii
Acknowledgmentsp. xxi
Introductionp. 1
Overviewp. 1
The Democratic Commitments to Government Involvement in the Macroeconomyp. 6
The Evolution of the Policy Commitments and of Macroeconomic Performancep. 14
Explaining Policy and Outcome Variation across Democracies over Timep. 41
The Political-Economic Implicationsp. 49
Conclusionp. 54
The Democratic Commitment to Social Insurancep. 62
Introduction: Motivation, the Explanandum, and a Road Mapp. 62
Economic Inequality and Demand for Transfers in Pure Democracyp. 64
Democratic Management of Transfer Systems by Elected Governmentsp. 69
The Data and Empirical Methodsp. 75
Empirical Evaluation of the Positive Political Economy of Transfersp. 85
Discussion, Conclusions, and Implicationsp. 108
Financing the Commitments: Public Debtp. 126
Introduction: Motivation, the Explanandum, and a Road Mapp. 126
Democratic Management of Public Debt: Theories, Measures, Stylized Factsp. 128
Empirical Evaluation of the Positive Political Economy of Public Debtp. 150
Discussion, Conclusions, and Implicationsp. 187
Monetary Management of the Macroeconomyp. 196
Introduction: Motivation, the Explanandum, and a Road Mapp. 196
Monetary-Policy-Making and Wage-Price-Bargaining Institutionsp. 199
A Proposed Synthesis and Extension: Institutional-Structural Interactionsp. 216
Empirical Evaluation of the Positive Political Economy of Monetary Policy Making and Wage-Price Bargainingp. 226
Discussion, Conclusions, and Implicationsp. 242
Comparative Democratic Political-Economy and Macroeconomic Policy Makingp. 256
Concluding Themesp. 256
A Prospective Overviewp. 274
Referencesp. 279
Indexp. 301
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780521802949
ISBN-10: 0521802946
Series: Cambridge Studies in Comparative Politics
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 332
Published: 25th February 2002
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 23.7 x 15.6  x 2.2
Weight (kg): 0.57