Business cycle dynamics and stabilization policies : a Keynesian approach /

Business cycle dynamics and stabilization policies : a Keynesian approach /

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Bibliographic Details
Author / Creator:	Hori, Hajime, author.
Imprint:	Singapore : Springer, [2017] ©2017
Description:	1 online resource
Language:	English
Series:	Advances in Japanese business and economics ; volume 15 Advances in Japanese business and economics ; v. 15.
Subject:	Business cycles -- Mathematical models. Economic policy. Business cycles -- Mathematical models. Economic policy. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/11273872

Hidden Bibliographic Details
ISBN:	9789811030819 9811030812 9789811030802 9811030804
Digital file characteristics:	text file PDF
Notes:	Includes bibliographical references and index. Online resource, title from PDF title page (EBSCO, viewed May 31, 2017).
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.
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
Standard no.:	10.1007/978-981-10-3081-9

Table of Contents:

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.