Monetary and fiscal dynamics /
Saved in:
| Author / Creator: | Carlberg, Michael |
|---|---|
| Imprint: | Heidelberg : Physica-Verlag, c1992. |
| Description: | viii, 194 p. : ill. ; 25 cm. |
| Language: | English |
| Series: | Studies in contemporary economics |
| Subject: | |
| Format: | Print Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/1365984 |
| Summary: | The analysis will be conducted within an IS-LM model augmen-ted by the dynamics of money wages, private capital andpublic debt. A macroeconomic shock induces an extendedprocess of adjustment that is characterized by unemployment.This in turn requires a dynamic path of monetary and fiscalpolicy: As a response to the shock, the central bankcontinuouslyadapts the quantity of money so as to keep upfull employment all the time. And the governmentcontinuously accommodates its purchases of goods andservices. Can this be sustained? Or will public debt tend toexplode, thereby driving the stock of capial down to zero? |
|---|---|
| Item Description: | "With 118 figures." |
| Physical Description: | viii, 194 p. : ill. ; 25 cm. |
| Bibliography: | Includes bibliographical references (p. [179]-189) and index. |
| ISBN: | 3790806196 0387914234 |