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Macroeconomic Policy and Public Choice. Study Edition : Macroeconomic Policy and Public Choice Study Edition - David Kiefer

Macroeconomic Policy and Public Choice. Study Edition

Macroeconomic Policy and Public Choice Study Edition

Paperback

Published: 18th November 1998
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Subject of this book is the intersection between political science and macroeconomics. The central idea is the existence of a political economic equilibrium in which the government acts to dampen the business cycle. The election cycle implies that this equilibrium may be a cycle rather than a point. An extension of new Keynesian theory provides a model of endogenous stabilization in which the government practices short-run stabilization policy which dampens the impact of exogenous shocks. This is a situation in which rational voters favor discretionary policy over a fixed policy rule even with rational economic agents. Special attention is given to the relevant data and to the possibilities of hypothesis testing.

Preface
A Historical Introductionp. 1
Microeconomic Foundationsp. 17
Social Choicep. 39
Short-Run Macro Modelsp. 59
The Phillips Curve and Expectationsp. 83
Fiscal and Monetary Policyp. 107
Keynesian Business Cyclesp. 127
Citizen Preferences for Stabilizationp. 149
Endogenous Stabilization and Macroeconomic Ideologyp. 163
Theories of the Political Business Cyclep. 191
Evidence of Political Business Cyclesp. 213
Government Debt, Deficit and Social Securityp. 231
Conclusionp. 257
Referencesp. 263
Subject Indexp. 273
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9783540648727
ISBN-10: 3540648720
Audience: General
Format: Paperback
Language: English
Number Of Pages: 275
Published: 18th November 1998
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 23.37 x 15.39  x 1.58
Weight (kg): 0.45