Macroeconomic Instability And Coordination

Author : Axel Leijonhufvud
Publisher : Edward Elgar Publishing
Page : 400 pages
File Size : 47,6 Mb
Release : 2000
Category : Business & Economics
ISBN : 1781008396

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Macroeconomic Instability and Coordination by Axel Leijonhufvud Pdf

Axel Leijonhufvud has made a unique contribution to the development of macroeconomic theory. This volume draws together his insightful essays dealing with the extremes of economic instability: great depressions, high inflation and the transition from socialism to a market economy. In several of the papers, Leijonhufvud brings a neo-institutionalist perspective to the problems of coordination in economic systems. The papers within Macroeconomic Instability and Coordination some of them already considered classics, deal with the questions that dominated Leijonhufvud's interest throughout his career as an economist: what are the limits to an economy's capacity to coordinate the activities of its members? How does the behavior of the system change under extreme conditions? In what ways does its performance depend upon the institutions that govern the market process?

Author : Axel Leijonhufvud
Publisher : Oxford University Press, USA
Page : 408 pages
File Size : 55,5 Mb
Release : 1981
Category : Macroeconomics
ISBN : UCSC:32106006603242

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Information and Coordination by Axel Leijonhufvud Pdf

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 33 pages
File Size : 47,7 Mb
Release : 1998-03-01
Category : Business & Economics
ISBN : 9781451844238

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Coordination of Monetary and Fiscal Policies by International Monetary Fund Pdf

Recently, monetary authorities have increasingly focused on implementing policies to ensure price stability and strengthen central bank independence. Simultaneously, in the fiscal area, market development has allowed public debt managers to focus more on cost minimization. This “divorce” of monetary and debt management functions in no way lessens the need for effective coordination of monetary and fiscal policy if overall economic performance is to be optimized and maintained in the long term. This paper analyzes these issues based on a review of the relevant literature and of country experiences from an institutional and operational perspective.

Author : J. van Rensburg,Campbell McConnell,Stanley Brue
Publisher : McGraw Hill
Page : 647 pages
File Size : 42,6 Mb
Release : 2015-03-16
Category : Business & Economics
ISBN : 9780077169688

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EBOOK: Economics, South African Edition by J. van Rensburg,Campbell McConnell,Stanley Brue Pdf

EBOOK: Economics, South African Edition

Author : Annalisa Rosselli,Nerio Naldi,Eleonora Sanfilippo
Publisher : Routledge
Page : 264 pages
File Size : 54,8 Mb
Release : 2018-09-03
Category : Business & Economics
ISBN : 9781351611664

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Money, Finance and Crises in Economic History by Annalisa Rosselli,Nerio Naldi,Eleonora Sanfilippo Pdf

Recently, students and scholars have expressed dissatisfaction with the current state of economics and have called for the reintroduction of historical perspectives into economic thinking. Supporting the idea that fruitful lessons can be drawn from the work of past economists, this volume brings together an international cross section of leading economists and historians of economic thought to reflect on the crucial role that money, crises and finance play in the economy. The book draws on the work of economists throughout history to consider afresh themes such as financial and real explanations of economic crises, the role of central banks, and the design of macroeconomic policies. These themes are all central to the work of Maria Cristina Marcuzzo, and the contributions both reflect on and further her research agenda. This book will be of interest to researchers in the history of economic thought, and those who wish to gain a deeper understanding of the variety and diversity in approaches to economic ideas throughout history.

Author : Thomas Marmefelt
Publisher : Routledge
Page : 204 pages
File Size : 41,8 Mb
Release : 2018-08-30
Category : Business & Economics
ISBN : 9781136728181

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The History of Money and Monetary Arrangements by Thomas Marmefelt Pdf

Today, most money is credit money, created by commercial banks. While credit can finance innovation, excessive credit can lead to boom/bust cycles, such as the recent financial crisis. This highlights how the organization of our monetary system is crucial to stability. One way to achieve this is by separating the unit of account from the medium of exchange and in pre-modern Europe, such a separation existed. This new volume examines this idea of monetary separation and this history of monetary arrangements in the North and Baltic Seas region, from the Hanseatic League onwards. This book provides a theoretical analysis of four historical cases in the Baltic and North Seas region, with a view to examining evolution of monetary arrangements from a new monetary economics perspective. Since the objective exhange value of money (its purchasing power), reflects subjective individual valuations of commodities, the author assesses these historical cases by means of exchange rates. Using theories from new monetary economics , the book explores how the units of account and their media of exchange evolved as social conventions, and offers new insight into the separation between the two. Through this exploration, it puts forward that money is a social institution, a clearing device for the settlement of accounts, and so the value of money, or a separate unit of account, ultimately results from the size of its network of users. The History of Money and Monetary Arrangements offers a highly original new insight into monetary arrangments as an evolutionary process. It will be of great interest to an international audience of scholars and students, including those with an interest in economic history, evolutionary economics and new monetary economics.

Author : John Duffy
Publisher : Emerald Group Publishing
Page : 300 pages
File Size : 50,5 Mb
Release : 2014-11-14
Category : Business & Economics
ISBN : 9781784411947

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Experiments in Macroeconomics by John Duffy Pdf

Volume 17 entitled 'Experiments in Macroeconomics', of the Research in Experimental Economics Book Series is the first-ever collection by leading researchers in the field of laboratory studies aimed at understanding macroeconomic phenomena.

Author : Robert W. Dimand,Harald Hagemann
Publisher : Edward Elgar Publishing
Page : 672 pages
File Size : 48,7 Mb
Release : 2019
Category : Electronic
ISBN : 9781788118569

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The Elgar Companion to John Maynard Keynes by Robert W. Dimand,Harald Hagemann Pdf

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.

Author : Randall Holcombe
Publisher : Routledge
Page : 274 pages
File Size : 45,9 Mb
Release : 2013-01-03
Category : Business & Economics
ISBN : 9781136162305

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Producing Prosperity by Randall Holcombe Pdf

The substantial prosperity that characterizes market economies at the beginning of the twenty-first century is relatively recent in human history. Prior to the Industrial Revolution, economic progress was so slow that people would not have been able to recognize it in their lifetimes, whereas today, economic progress is so much a part of people’s lives that they take it for granted. In this new volume, Randall G. Holcombe argues that economic analysis, as it developed through the twentieth century, relies heavily on concepts of economic equilibrium, and is not descriptive of the dynamic real-world economy that is characterized by economic progress. Even in dynamic settings, economic models focus on income growth, leaving out the entrepreneurial forces that generate economic progress, resulting in the introduction of new goods and services and new production processes. Economic analysis focuses on the forces that lead to an economic equilibrium, not the forces that produce prosperity. This characterization of economic analysis describes a substantial component of economics as it has developed over the past century. However, there are also economists who have analyzed the factors that lead to an entrepreneurial and innovative economy, generating progress rather than equilibrium. This volume does not question the value of past research, but argues that, looking ahead, economics should build on its past to focus on factors that create an entrepreneurial and innovative economy that is characterized by progress and prosperity. This would make economic analysis more consistent with the remarkable progress and prosperity that characterizes the modern economy. This volume lays out a framework for economic analysis that consistently incorporates the real-world factors that produce prosperity.

Author : Iyanatul Islam
Publisher : Springer
Page : 343 pages
File Size : 44,7 Mb
Release : 2014-02-25
Category : Business & Economics
ISBN : 9781137379252

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Beyond Macroeconomic Stability by Iyanatul Islam Pdf

This volume goes beyond a narrow conceptualization of macroeconomic stability and explores the link between socio-economic policies, structural transformation and inclusive development. It rests on three thematic pillars: the limits of conventional macroeconomics; the long run agenda of structural transformation and the development of capabilities.

Author : Juan Ignacio García Pelufo
Publisher : BID-INTAL
Page : 60 pages
File Size : 47,7 Mb
Release : 2003
Category : Electronic
ISBN : 9789507381904

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La inserción del MERCOSUR al mundo globalizado by Juan Ignacio García Pelufo Pdf

Author : P. Collier,C. Soludo,C. Pattillo
Publisher : Springer
Page : 439 pages
File Size : 44,5 Mb
Release : 2008-04-24
Category : Business & Economics
ISBN : 9780230583191

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Economic Policy Options for a Prosperous Nigeria by P. Collier,C. Soludo,C. Pattillo Pdf

This book demonstrates that there is sufficient evidence on the Nigerian economy and society to inform many policy issues, and reveals the current problems and policy options that a democratic Nigeria will need to debate and resolve. It presents an agenda of reform as unfinished business.

Author : Lok Sang Ho,Chi-Wa Yuen
Publisher : Springer Science & Business Media
Page : 258 pages
File Size : 47,5 Mb
Release : 2011-06-28
Category : Business & Economics
ISBN : 9781461510413

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Exchange Rate Regimes and Macroeconomic Stability by Lok Sang Ho,Chi-Wa Yuen Pdf

The Asian crisis of 1997-1998 was a major influence on macroeconomic thinking concerning exchange rate regimes, the functioning of international institutions, such as the IMF and the World Bank, and international contagion of macroeconomic instability from one country to another. Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability. Overall, the chapters contained in this volume offer interesting perspectives, which have been stimulated by the recent events in the foreign exchange market. They provide a useful reference for anyone interested in the development of exchange rate regimes, and represent considerable reflection by economists half a century after Bretton Woods.

Author : Armin Steinbach
Publisher : Routledge
Page : 202 pages
File Size : 48,7 Mb
Release : 2014-05-09
Category : Business & Economics
ISBN : 9781317689621

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Economic Policy Coordination in the Euro Area by Armin Steinbach Pdf

The European debt crisis has given new impetus to the debate on economic policy coordination. In economic literature, the need for coordination has long been denied based on the view that fiscal, wage and monetary policy actors should work independently. However, the high and persistent degree of macroeconomic disparity within the EU and the absence of an optimum currency area has led to new calls for examining policy coordination. This book adopts an institutional perspective, exploring the incentives for policymakers that result from coordination mechanisms in the fields of fiscal, monetary and wage policy. Based on the concept of externalities, the work examines cross-border spillovers (e.g. induced by fiscal policy) and cross-policy spillovers (e.g. between fiscal and monetary policies), illuminating how they have empirically changed over time and how they have been addressed by policymakers. Steinbach introduces a useful classification scheme that distinguishes between vertical and horizontal coordination as well as between cross-border and cross-policy coordination. The author discusses farther-reaching forms of fiscal coordination (e.g. debt limits, insolvency proceedings, Eurobonds) with special attention to how principals of state organization affect their viability. Federal states and Bundesstaaten differ in the incentives they offer for debt accumulation – and thus in their suitability for fiscal coordination. Steinbach finds that the originally strict separation between policy areas has undergone significant change during the debt crisis. Indeed, recent efforts to coordinate policy are no longer limited to one policy area, but now extend to several areas. Steinbach argues that further fiscal policy coordination can be effectively deployed to address policy externalities, but that the coordination mechanisms used must match the form of state organization in the first place. Regarding wage policies, there are significant barriers to coordination. Notwithstanding some empirical successes in the implementation of a productivity-oriented wage policy, the high heterogeneity of national wage-setting institutions is likely to prevent any wage coordination.

Author : Anonim
Publisher : Transaction Publishers
Page : 308 pages
File Size : 54,6 Mb
Release : 1992-01-01
Category : Political Science
ISBN : 1412831792

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The Premise and the Promise by Anonim Pdf

The vision of a hemispheric system of free trade charts a bold new course for U.S--Latin American relations that promises to transform the economic and political landscape of the hemisphere well into the next century. In "The Premise and the Promise, "analysts from the United States, Latin America, and Canada explore the dynamics of the process under way in the Americas today, what features free trade ought to have, how the process of regional integration should proceed, and how the regional architecture should be related to the international trading system. Mexico's decision to seek a free trade agreement with the United States and Washington's announcement of the Enterprise for the Americas Initiative turned the incipient integrationist revival of the mid-1980s in Latin America into a seemingly unstoppable force. If regionalism is to be a benign force, however, it must overcome the impulse toward closed, exclusionary arrangements and emulate the best features of the multilateral approach: a regional arrangement should be flexible enough to accommodate vast regional diversity, inclusive enough to allow all countries in the region to participate, and efficient enough not to impose unduly large costs on those excluded from the arrangement. The contents include: Sylvia Saborio, "Overview: The Long and Winding Road from Anchorage to Patagonia," Peter Morici, "American Free Trade: A U.S. Perspective," Jos" Salazar and Eduardo Lizano, "Free Trade hi the Americas: A Latin American Perspective," Richard Lipsey, "Getting There: A Canadian View on WHFTA's Structure," and Refik Erzan and Alexander Yeats, "Empirical Evidence on the Impact of Free Trade Agreements with the United States on Latin America." In six separate chapters, analysts weigh the costs and benefits of subregional free trade agreements between the United States and Mexico, Chile, Central America, Caricom, the Andean Pact, and Mercosur.