Business Cycle Dynamics and Stabilization Policies - A Keynesian Approach (Hardcover, 1st ed. 2017)

This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.

General

Imprint:	Springer Verlag, Singapore
Country of origin:	Singapore
Series:	Advances in Japanese Business and Economics, 15
Release date:	May 2017
First published:	2017
Authors:	Hajime Hori
Dimensions:	235 x 155 x 11mm (L x W x T)
Format:	Hardcover
Pages:	142
Edition:	1st ed. 2017
ISBN-13:	978-981-10-3080-2
Categories:	Books > Business & Economics > Economics > Economic theory & philosophy Books > Business & Economics > Economics > Political economy Books > Business & Economics > Economics > Macroeconomics > General
LSN:	981-10-3080-4
Barcode:	9789811030802

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