| Document Type
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BL
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| Record Number
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748523
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| Doc. No
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b568479
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| Main Entry
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Michael Carlberg.
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| Title & Author
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Intertemporal macroeconomics : : deficits, unemployment, and growth\ Michael Carlberg.
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| Publication Statement
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Heidelberg ; New York : Physica-Verlag, ©1998.
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| Series Statement
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Contributions to economics.
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| Page. NO
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(240 pages) : illustrations
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| ISBN
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3642470238
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: 9783642470233
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| Contents
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Simple Models of a Stationary Economy: Closed Economy; Open Economy --; Closed Economy: Fixed Deficit Per Head; Fixed Tax Per Head; Fixed Tax Rate; Summary --; Open Economy: Fixed Exchange Rate: Economy without Public Sector; Economy with Public Sector (Public Debt); Summary --; Flexible Exchange Rate: Economy without Public Sector; Economy with Public Sector (Public Debt); Summary.
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| Abstract
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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.
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| Subject
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Deficit financing.
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| Subject
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Fiscal policy.
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| Subject
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Macroeconomics.
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| LC Classification
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HB172.5M534 1998
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| Added Entry
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Michael Carlberg
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