Macroeconomic policy and public choice: with 42 tables
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Deutsch |
| Veröffentlicht: |
Berlin [u.a.]
Springer
1999
|
| Ausgabe: | Study ed. |
| Schlagwörter: | |
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=008275585&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XVII, 275 S. graph. Darst. |
| ISBN: | 3540648720 |
Internformat
MARC
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| 100 | 1 | |a Kiefer, David |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Macroeconomic policy and public choice |b with 42 tables |c David Kiefer |
| 250 | |a Study ed. | ||
| 264 | 1 | |a Berlin [u.a.] |b Springer |c 1999 | |
| 300 | |a XVII, 275 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
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| 648 | 4 | |a Geschichte 1900-2000 | |
| 650 | 4 | |a Geschichte | |
| 650 | 4 | |a Politik | |
| 650 | 4 | |a Wirtschaftspolitik | |
| 650 | 4 | |a Business cycles -- Political aspects -- United States -- History -- 20th century | |
| 650 | 4 | |a Presidents -- United States -- Election -- History -- 20th century | |
| 650 | 4 | |a Representative government and representation -- United States -- History -- 20th century | |
| 650 | 0 | 7 | |a Ökonomische Theorie der Politik |0 (DE-588)4043214-2 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Public-Choice-Theorie |0 (DE-588)4233109-2 |2 gnd |9 rswk-swf |
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Datensatz im Suchindex
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|---|---|
| adam_text | Table of Contents
Preface VII
Chapter 1. A Historical Introduction 1
1.1. The Keynesian revolution and the evolution of government s role 1
1.2. Keynesian orthodoxy 4
1.3. The political consequences of depression proofing 6
1.4. The economic consequences of depression proofing 9
1.5. Schools of thought 11
1.6. Ideology and politics 12
1.7. The market failure rationale for government intervention 14
1.8. Public choice 15
1.9. Conclusion 16
Chapter 2. Microeconomic Foundations 17
2.1. Introduction 17
2.2. Consumers 17
2.2.1. Special case: Lifecycle consumption 21
2.2.2. Special case: Keynesian consumption 22
2.3. Producers 23
2.4. General equilibrium 24
xn
2.5. Pareto efficiency 26
2.5.1. A two by two example 27
2.6. Social welfare functions 29
2.6.1. More on our two by two example 31
2.6.2. Limitations of welfare economics 32
2.7. Unemployment and inflation 34
2.8. The government budget and economic policy 35
2.9. Conclusion 37
Chapter 3. Social Choice 39
3.1. Introduction 39
3.2. The theoretical superiority of majority rule 41
3.3. The impossibility of asking for more 42
3.4. Median voter model 45
3.5. Two dimensional social choice 47
3.6. Probabilistic voting 51
3.7. Political information and party ideology 56
3.8. Conclusion 58
Chapter 4. Short Run Macro Models 5 9
4.1. Introduction 59
4.2. Classical macro from microfoundations 60
4.3. Rationed equilibrium and rigid prices 64
4.4. Non Walrasian equilibria 67
4.4.1. Type A: Excess supply of labor and goods 67
4.4.2. Type B: Excess supply of labor 70
4.4.3. Type C: Excess demand for labor 72
XIII
4.5. A Cobb Douglas example 73
4.6. Unemployment equilibrium with imperfect competition 78
4.7. Conclusion 80
Chapter 5. The Phillips Curve and Expectations 8 3
5.1. Introduction 83
5.2. The natural rate hypothesis 85
5.3. Unemployment and output gaps 89
5.4. Expectations about inflation in the future 92
5.5. Econometric uncertainty 96
5.6. One model of supply: producer uncertainty 99
5.7. Another model: predetermined wages 101
5.8. New classical macroeconomics 102
5.9. Conclusion 104
Chapter 6. Fiscal and Monetary Policy 107
6.1. Introduction 107
6.2. Accounting peculiarities in the US budget 108
6.3. Built in stabilizers 111
6.4. Balanced and unbalanced budgets 113
6.5. Doubts about fiscal policy effectiveness 115
6.6. The Federal Reserve and the president 116
6.7. Describing the money stock 118
6.8. Causality tests 121
XIV
6.9. Spurious regression 124
6.10. Conclusion 126
Chapter 7. Keynesian Business Cycles 127
7.1. Introduction 127
7.2. Cycles in a Keynesian model 128
7.3. A linear econometric model 134
7.4. Linear versus nonlinear models 136
7.5. Regression results 139
7.6. Specification uncertainty 144
7.7. Dynamic behavior 146
7.8. Conclusion 148
Chapter 8. Citizen Preferences for Stabilization 149
8.1. Introduction 149
8.2. Incumbent performance and voter preferences 151
8.3. Presidential popularity 151
8.4. Modeling popularity 154
8.5. Results 157
8.6. Conclusion 160
Chapter 9. Endogenous Stabilization and Macroeconomic
Ideology 163
9.1. Introduction 163
9.2. New Keynesian stabilization analysis 164
XV
9.3. New classical stabilization analysis 169
9.4. Ideology 170
9.5. Perceptions and expected utility 171
9.6. Plausible parameter values 175
9.7. The zero inflation rule and inflation volatility 175
9.8. Voters should prefer conservatives, under certain conditions 179
9.9. Uncertainty about candidate platforms 184
9.10. Conclusion 185
Appendix 187
Chapter 10. Theories of the Political Business Cycle 191
10.1. Introduction 191
10.2. Election opportunism 191
10.3. Partisan macroeconomics 193
10.4. Forward looking expectations 195
10.5. Backward looking expectations 199
10.6. Growth rate targets 202
10.7. Generalizations 204
10.7.1. Ideological governments with rational agents 204
10.7.2. Opportunistic governments with fixed terms 205
10.7.3. Opportunistic governments with endogenous election timing 207
10.7.4. Ideological governments with adaptive agents 209
10.7.5. Growth rate targets 210
10.8. Conclusion 210
XVI
Chapter 11. Evidence of Political Business Cycles 213
11.1. US observations remain unexplained 213
11.2. Econometric specification 216
11.3. Regression results 219
11.4. Observations from 18 OECD democracies 221
11.5. Regression tests for the OECD 223
11.6. Alternative OECD results 226
11.7. Conclusion 229
Chapter 12. Government Debt, Deficit and Social Security 231
12.1. Public debt in the short and long run 231
12.2. Overlapping generations and efficiency 233
12.3. Public debt 234
12.3.1. An analytic example 235
12.4. Pay as you go social security 236
12.5. Overlapping generations and equity 238
12.6. Market imperfections in the credit market 241
12.7. The Ricardian equivalence theorem 244
12.8. Rationality, taboo or inertia 247
12.9. Economic growth and the bequest constraint 248
12.10. Social security 250
12.12. Conclusion 252
Appendix: More overlapping scenarios 253
xvn
Chapter 13. Conclusion 257
13.1. The Keynesian revolution 257
13.2. Foundations 257
13.3. Weak evidence of policy effectiveness 258
13.4. Rational expectations and the Phillips curve 259
13.5. An inherently unstable equilibrium 259
13.6. Stabilization and conservatism 260
13.7. Doubts about rational expectations 260
13.8. Long run Key nesian outcomes 261
References 263
Subject Index 273
|
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| id | DE-604.BV012211144 |
| illustrated | Illustrated |
| indexdate | 2024-12-20T10:26:22Z |
| institution | BVB |
| isbn | 3540648720 |
| language | German |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-008275585 |
| oclc_num | 845143492 |
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| spellingShingle | Kiefer, David Macroeconomic policy and public choice with 42 tables Geschichte Politik Wirtschaftspolitik Business cycles -- Political aspects -- United States -- History -- 20th century Presidents -- United States -- Election -- History -- 20th century Representative government and representation -- United States -- History -- 20th century Ökonomische Theorie der Politik (DE-588)4043214-2 gnd Public-Choice-Theorie (DE-588)4233109-2 gnd Stabilitätspolitik (DE-588)4077791-1 gnd |
| subject_GND | (DE-588)4043214-2 (DE-588)4233109-2 (DE-588)4077791-1 |
| title | Macroeconomic policy and public choice with 42 tables |
| title_auth | Macroeconomic policy and public choice with 42 tables |
| title_exact_search | Macroeconomic policy and public choice with 42 tables |
| title_full | Macroeconomic policy and public choice with 42 tables David Kiefer |
| title_fullStr | Macroeconomic policy and public choice with 42 tables David Kiefer |
| title_full_unstemmed | Macroeconomic policy and public choice with 42 tables David Kiefer |
| title_short | Macroeconomic policy and public choice |
| title_sort | macroeconomic policy and public choice with 42 tables |
| title_sub | with 42 tables |
| topic | Geschichte Politik Wirtschaftspolitik Business cycles -- Political aspects -- United States -- History -- 20th century Presidents -- United States -- Election -- History -- 20th century Representative government and representation -- United States -- History -- 20th century Ökonomische Theorie der Politik (DE-588)4043214-2 gnd Public-Choice-Theorie (DE-588)4233109-2 gnd Stabilitätspolitik (DE-588)4077791-1 gnd |
| topic_facet | Geschichte Politik Wirtschaftspolitik Business cycles -- Political aspects -- United States -- History -- 20th century Presidents -- United States -- Election -- History -- 20th century Representative government and representation -- United States -- History -- 20th century Ökonomische Theorie der Politik Public-Choice-Theorie Stabilitätspolitik USA United States -- Economic policy -- Decision making |
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