Umfang:
1 online resource (112 pages)
Ausgabe:
1st ed.
ISBN:
9780415107631
,
9780203028025
Inhalt:
Prachowny details why the economic promises of politicians often fall by the wayside, and questions the argument that full employment should be the primary objective of economic policy in all circumstances
Anmerkung:
Intro -- THE GOALS OF MACROECONOMIC POLICY -- Copyright -- Contents -- List of Charts -- List of Figures -- List of Tables -- Preface -- Introduction -- 1 The Theory of Macroeconomic Goals -- 1.1 The Pareto Optimality of Macroeconomic Goals -- 1.2 The Benefits of Full Employment -- 1.2.1 The Social Costs of Unemployment -- 1.2.2 Optimality and Symmetry -- 1.2.3 Optimality of Policy Intervention -- 1.2.4 Optimality and Commitment -- 1.2.5 Summary -- 1.3 The Welfare Costs of Inflation -- 1.4 The Trade-off between Unemployment and Inflation -- 1.4.1 Reaction Functions -- 1.4.2 Predictable Policy Changes and their Effects -- 1.4.3 Games between the Public and the Authorities -- 1.5 Summary -- 2 The Achievement of Macroeconomic Targets: U.S. Experience, 1948-90 -- 2.1 U.S. Macroeconomic Performance, 1948-90 -- 2.1.1 Inflation Performance -- 2.1.2 Output Performance -- 2.2 The Effectiveness of Stabilization Policy -- 2.3 Legislative Intent for Stabilization Policy -- 2.4 Implementation of Stabilization Policy -- 2.4.1 The Period of a Stable Phillips Curve: 1948-68 -- The Truman Administration -- The Elsenhower Administration -- The Kennedy-Johnson Administration -- Overall Assessment of the Period -- 2.4.2 The Transition to Higher Inflation: 1969-73 -- The Nixon Administration -- Assessment of the Period -- 2.4.3 The Oil-Price Shocks: 1974-80 -- The Ford Administration -- The Carter Administration -- Overall Assessment of the Period -- 2.4.4 The Return of a Stable Phillips Curve: 1981-90 -- The Reagan-Bush Administrations -- Overall Assessment of the Period -- 2.5 Concluding Remarks -- 3 The Market for Labor Services and the Macroeconomy -- 3.1 The Supply of Labor -- 3.1.1 The Choice of Optimal Hours -- 3.1.2 The Choice to Participate in the Labor Market -- 3.1.3 The Supply of Overtime Hours -- 3.1.4 Properties of the Labor-Supply Curve
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3.2 The Demand for Labor -- 3.2.1 Profit-maximizing Choices for a Firm's Inputs -- 3.2.2 The Demand for Workers by Monopolists -- 3.2.3 The Demand for Overtime Hours -- 3.2.4 Employment and the Demand for Labor -- 3.2.5 Properties of the Labor-Demand Curve -- 3.3 Equilibrium in the Labor Market -- 3.3.1 Characteristics of Equilibrium -- 3.3.2 The Natural Rate of Unemployment -- 3.4 Disequilibrium and Unemployment -- 3.4.1 Wage Determination -- 3.4.2 Derivation of the Aggregate-Supply Curve -- 3.5 Stabilization Policy and the Labor Market -- 3.6 Types of Unemployment -- 3.7 The Empirical Relevance of the Model -- 3.8 Conclusions about Labor-Market Characteristics -- 4 The Welfare Economics of Macropolicy -- 4.1 Welfare Analysis in the Labor Market -- 4.1.1 The Preferences of Firms -- 4.1.2 What do Workers Want? -- 4.2 The Possibility of Pareto Improvements -- 4.2.1 Optimal Subsidization -- 4.2.2 Alternative Labor Market Institutions -- 4.2.3 Macropolicy Initiatives -- 4.3 The Welfare Effects of Stabilization Policy -- 4.4 The Equity Argument -- 4.5 Democratically Determined Wages -- 4.6 Democratically Determined Macropolicy -- 4.7 Conclusions -- 5 Public Expenditures and the Private Interest -- 5.1 Government Demand and Industry Welfare -- 5.2 The Welfare of Producing Agents -- 5.3 A Measure of Industry Welfare Changes -- 5.4 A Case Study of Federal Government Purchases -- 5.4.1 Effects on Individual Industries -- 5.4.2 Finding the Median Voter -- 5.4.3 The Attractiveness of Government Industries -- 5.5 An Alternative Explanation -- 5.6 Conclusion -- 6 The Macroeconomic Policy Apparatus -- 6.1 Individual Support for Public Choices -- 6.2 Government Activity as Zero-sum Games -- 6.3 Bias in Stabilization Policies -- 6.4 Improving the Policy Apparatus -- 6.4.1 The Balanced Budget Act of 1985 -- 6.4.2 Balanced Budget Constitutional Amendments
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6.4.3 Presidential Line-Item Veto -- 6.4.4 Reliance on Monetary Policy -- 6.5 Exploitation of Stabilization Policies -- 6.6 Conclusion -- Epilogue -- Bibliography -- Index
Weitere Ausg.:
Print version Prachowny, Martin The Goals of Macroeconomic Policy Oxford : Taylor & Francis Group,c1994 ISBN 9780415107631
Sprache:
Englisch
Schlagwort(e):
Electronic books
URL:
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