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" Macroeconomic Policy and Public Choice "
by David Kiefer.
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BL
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| Record Number
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751607
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b571566
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| Main Entry
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by David Kiefer.
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| Title & Author
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Macroeconomic Policy and Public Choice\ by David Kiefer.
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| Publication Statement
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Berlin, Heidelberg : Springer Berlin Heidelberg, 1997
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| Page. NO
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(XVII, 275 Seiten)
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| ISBN
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3540648720
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: 3642605648
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: 9783540648727
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: 9783642605642
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| Abstract
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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.
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| Subject
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Economics.
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Macroeconomics.
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| LC Classification
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HB3743.B933 1997
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| Added Entry
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David Kiefer
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