The Making of Economic Policy begins by observing that most countries' trade policies are so blatantly contrary to all the prescriptions of the economist that there is no way to understand this discrepancy except by delving into the politics. The same is true for many other dimensions of economic policy.
Avinash Dixit looks for an improved understanding of the politics of economic policy-making from a transaction cost perspective. Such costs of planning, implementing, and monitoring an exchange have proved critical to explaining many phenomena in industrial organization. Dixit discusses the variety of similar transaction costs encountered in the political process of making economic policy and how these costs affect the operation of different institutions and policies.
Dixit organizes a burgeoning body of research in political economy in this framework. He uses U.S. fiscal policy and the General Agreement on Tariffs and Trade (GATT) as two examples that illustrate the framework, and show how policy often deviates from the economist's ideal of efficiency. The approach reveals, however, that some seemingly inefficient practices are quite creditable attempts to cope with transaction costs such as opportunism and asymmetric information.
Copublished with the Center for Economic Studies and the Ifo Institute
"synopsis" may belong to another edition of this title.
"About this title" may belong to another edition of this title.
Shipping:
FREE
Within U.S.A.
Book Description Condition: New. Brand New. US Edition Book. We do not ship to Military Addresses. Fast Shipping with Order Tracking. For Standard Shipping 7-8 business days & Expedite Shipping 4-6 business days, after shipping. Seller Inventory # 0262540983-RMX
Book Description Soft Cover. Condition: new. This item is printed on demand. Seller Inventory # 9780262540988
Book Description Paperback. Condition: new. Buy for Great customer experience. Seller Inventory # GoldenDragon0262540983
Book Description Paperback. Condition: new. Brand New Copy. Seller Inventory # BBB_new0262540983
Book Description Softcover. Condition: New. The Making of Economic Policy begins by observing that most countries' trade policies are so blatantly contrary to all the prescriptions of the economist that there is no way to understand this discrepancy except by delving into the politics. The same is true for many other dimensions of economic policy.Avinash Dixit looks for an improved understanding of the politics of economic policy-making from a transaction cost perspective. Such costs of planning, implementing, and monitoring an exchange have proved critical to explaining many phenomena in industrial organization. Dixit discusses the variety of similar transaction costs encountered in the political process of making economic policy and how these costs affect the operation of different institutions and policies.Dixit organizes a burgeoning body of research in political economy in this framework. He uses U.S. fiscal policy and the General Agreement on Tariffs and Trade (GATT) as two examples that illustrate the framework, and show how policy often deviates from the economist's ideal of efficiency. The approach reveals, however, that some seemingly inefficient practices are quite creditable attempts to cope with transaction costs such as opportunism and asymmetric information.Copublished with the Center for Economic Studies and the Ifo Institute. Seller Inventory # DADAX0262540983
Book Description Paperback. Condition: new. New. Seller Inventory # Wizard0262540983
Book Description Paperback. Condition: new. New Copy. Customer Service Guaranteed. Seller Inventory # think0262540983
Book Description Condition: new. Seller Inventory # FrontCover0262540983
Book Description Condition: New. Book is in NEW condition. 0.57. Seller Inventory # 0262540983-2-1
Book Description Condition: New. New! This book is in the same immaculate condition as when it was published 0.57. Seller Inventory # 353-0262540983-new