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Long-run Growth and Short-run Stabilization - Essays in Memory of Albert Ando (Hardcover)
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Long-run Growth and Short-run Stabilization - Essays in Memory of Albert Ando (Hardcover)
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There is much confusion in the economics literature on wage
determination and the employment-inflation trade-off. Few model
builders pay as much careful attention to the definition and
meaning of long-run concepts as did Albert Ando. Expanding on years
of painstaking work by Ando, the contributors elaborate on the main
issues of economic analysis and policies that concerned him.Some of
the issues discussed include long-run properties of dynamic
econometric models, demographic issues of modern times,
stabilization policies - especially for Japan - and interaction
between monetary and real economy issues, as well as life-cycle
behavior patterns, and the appropriate role of the Phillips Curve
and the determination of prices. Paying close attention to the
concepts and properties of models, Long-run Growth and Short Run
Stabilization is for those interested in the macroeconomics of the
US, Italy, and Japan. Scholars of aggregative dynamic models based
on realistic reasoning will benefit from the information imparted,
as will policymakers who want to understand the functioning of the
modern economy.
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