Theoretical Foundations of Macroeconomic Policy

Growth, productivity and public finance

Giovanni Di Bartolomeo, Enrico Saltari (Herausgeber)

Buch | Softcover

198 Seiten

2018
Routledge (Verlag)
978-1-138-59931-4 (ISBN)

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The recent economic events driven by the great financial crisis of 2007-08 has challenged some "dogma", highlighting various limits and drawbacks of current paradigms. The crisis showed the limitations of monetary policy and led to a revaluation of what levels of public debt can be considered safe. This volume aims to refresh the debate on some important long-run macroeconomic issues from new and fresh perspectives.

Theoretical Foundations of Macroeconomic Policy raises a number of questions relating to the challenges faced by macroeconomic theory and policies. The common line is the long run and policy perspective. The first part of the book is devoted to the theory of growth and productivity. The second part concentrates on long-run effects of fiscal and monetary policy. Specifically, topics investigated by the international range of authors are the theory of optimal growth, the productivity policies and production function estimations, demand- vs. supply- driven growth, optimal debt default and the incompleteness of financial markets, the long-run optimal inflation target and its relationship with public finance, the long term effects of government budget constraints on growth, and effect on optimal policies in non-market clearing environment.

The book will be of interest to postgraduates, researchers, and academics studying macroeconomics and fiscal policies.

Giovanni Di Bartolomeo teaches economic policy and monetary economics at the Sapienza University of Rome, Italy. Enrico Saltari teaches economics and financial economics at the Sapienza University of Rome, Italy.

Contents

Introduction

Part I –Theories

1 Optimal growth theory revisited

2 Continuous-time modelling

3 Demand factors and GDP growth

4 LAMP & banks balance sheet constraints

5 Secular Stagnation

Part II –Policies

6 Public finance and inflation

7 Government budget constraints

8 Productivity as an intermediate target

9 FX reserves for emerging economies

10 Labor market policies

Erscheinungsdatum	15.05.2018
Reihe/Serie	Routledge Frontiers of Political Economy
Zusatzinfo	49 Tables, black and white; 28 Line drawings, black and white; 28 Illustrations, black and white
Verlagsort	London
Sprache	englisch
Maße	156 x 234 mm
Gewicht	390 g
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-10	1-138-59931-X / 113859931X
ISBN-13	978-1-138-59931-4 / 9781138599314
Zustand	Neuware