Hidden Bibliographic Details
| ISBN: | 9789811030819
9811030812
9789811030802
9811030804
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| Digital file characteristics: | text file
PDF
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| Notes: | Includes bibliographical references and index.
Online resource, title from PDF title page (EBSCO, viewed May 31, 2017).
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| Summary: | 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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| Other form: | Print version: Hori, Hajime. Business cycle dynamics and stabilization policies : a Keynesian approach. Singapore : Springer, ©2017 xiii, 142 pages Advances in Japanese business and economics ; Volume 15 2197-8867 9789811030802
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| Standard no.: | 10.1007/978-981-10-3081-9
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