Business cycle dynamics and stabilization policies : a Keynesian approach

• 作者： Hori, Hajime, author.
• 其他作者：
  • SpringerLink (Online service)
• 其他題名：
  • Advances in Japanese business and economics ;
• 出版： Singapore : Springer Singapore :Imprint: Springer
• 叢書名： Advances in Japanese business and economics,volume 15
• 主題： Business cycles--Mathematical models. , Economic policy. , Economics. , Macroeconomics/Monetary Economics/Financial Economics. , Economic Theory/Quantitative Economics/Mathematical Methods. , Economic Policy.
• ISBN： 9789811030819 (electronic bk.) 、 9789811030802 (paper)
• FIND@SFXID: CGU
• 資料類型: 電子書
• 內容註: 1 An Aggregative Model of Unemployment, Cycles, and Growth -- 2 A Hicksian Two-Sector Model of Unemployment, Cycles, and Growth -- 3 Stabilization Policies and Business Cycle Dynamics -- References -- Index.
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• 摘要註: 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.
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