Martin Prachowny

The Goals of Macroeconomic Policy (eBook, PDF)

• Format: PDF

Produktbeschreibung

Prachowny details why the economic promises of politicians often fall by the wayside, and questions the argument that full employment should be the primary objective of economic policy in all circumstances.

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Produktdetails

• Verlag: Taylor & Francis eBooks
• Seitenzahl: 232
• Erscheinungstermin: 12. November 2012
• Englisch
• ISBN-13: 9781134841448
• Artikelnr.: 38258969

Autorenporträt

Martin Prachowny is Professor of Economics at Queen's University, where he has taught since 1967, while holding visiting positions at MIT and LSE. He is the author of five previous books, the most recent of which is Money in the Macroeconomy (CUP, 1985), and many journal articles in the area of macroeconomic policy.

Inhaltsangabe

Preface Introduction 1 The Theory of Macroeconomic Goals 1.1 The Pareto
Optimality of Macroeconomic Goals 1.2 The Benefits of Full Employment 1.3
The Welfare Costs of Inflation 1.4 The Trade-off between Unemployment and
Inflation 1.5 Summary 2 The Achievement of Macroeconomic Targets: U.S.
Experience, 1948-90 2.1 U.S. Macroeconomic Performance, 1948-90 2.2 The
Effectiveness of Stabilization Policy 2.3 Legislative Intent for
Stabilization Policy 2.4 Implementation of Stabilization Policy 2.5
Concluding Remarks 3 The Market for Labor Services and the Macroeconomy 3.1
The Supply of Labor 3.2 The Demand for Labor 3.3 Equilibrium in the Labor
Market 3.4 Disequilibrium and Unemployment 3.5 Stabilization Policy and the
Labor Market 3.6 Types of Unemployment 3.7 The Empirical Relevance of the
Model 3.8 Conclusions about Labor-Market Characteristics 4 The Welfare
Economics of Macropolicy 4.1 Welfare Analysis in the Labor Market 4.2 The
Possibility of Pareto Improvements 4.3 The Welfare Effects of Stabilization
Policy 4.4 The Equity Argument 4.5 Democratically Determined Wages 4.6
Democratically Determined Macropolicy 4.7 Conclusions 68 5 Public
Expenditures and the Private Interest 5.1 Government Demand and Industry
Welfare 5.2 The Welfare of Producing Agents 5.3 A Measure of Industry
Welfare Changes 5.4 A Case Study of Federal Government Purchases 5.5 An
Alternative Explanation 5.6 Conclusion 80 6 The Macroeconomic Policy
Apparatus 6.1 Individual Support for Public Choices 6.2 Government Activity
as Zero-sum Games 6.3 Bias in Stabilization Policies 6.4 Improving the
Policy Apparatus 6.5 Exploitation of Stabilization Policies 6.6 Conclusion