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In recent times the US economy has been characterised by burgeoning budget and current account deficits and increasing amounts of foreign capital inflows. For the UK too, the budget deficit remains a central weakness in the economy.
In the light of these problems this book presents a consistent economic framework for analysing the effects and implications of large bond-financed deficits. The author uses an open-economy rational expectations model to explore to what extent governments can simply 'roll-over' debt by issuing more bonds without any help from the monetary authority. He examines too, the impact of foreign capital on the sustainability of domestic budget deficits the behaviour of exchange rates and the possible effects of fiscal and monetary policies. This model is placed in the context of the major economic orthodoxies and their competing stances and also of American monetary history from Truman to Reagan and the crash of 1987.
Focusing attention on a major problem in macroeconomics and for the chancellors of a number of economies, the book makes an important contribution to the understanding of this complex area.
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Farrokh K. Langdana teaches at Rutgers University.
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Book Description Routledge, 1990. Condition: New. book. Seller Inventory # M0415037352
Book Description Routledge, 1990. Hardcover. Condition: New. Seller Inventory # DADAX0415037352
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Book Description Routledge, 2016. Paperback. Condition: New. PRINT ON DEMAND Book; New; Publication Year 2016; Not Signed; Fast Shipping from the UK. No. book. Seller Inventory # ria9780415037358_lsuk
Book Description Routledge. Condition: BRAND NEW. BRAND NEW Hardcover - 224pp - This title is now printed on demand - please allow 2-3 weeks added time for shipment A Brand New Quality Book from a Full-Time Bookshop in business since 1992!. Seller Inventory # 1963519
Book Description Routledge, 2018. Hardback. Condition: NEW. 9780415037358 This listing is a new book, a title currently in-print which we order directly and immediately from the publisher. Print on Demand title, produced to the highest standard, and there would be a delay in dispatch of around 10 working days. For all enquiries, please contact Herb Tandree Philosophy Books directly - customer service is our primary goal. Seller Inventory # HTANDREE0237466
Book Description Routledge 1989-12-07, 1989. Condition: New. Brand new book, sourced directly from publisher. Dispatch time is 4-5 working days from our warehouse. Book will be sent in robust, secure packaging to ensure it reaches you securely. Seller Inventory # NU-TNFPD-00025955
Book Description Routledge, 1989. HRD. Condition: New. New Book. Shipped from US within 10 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Seller Inventory # IQ-9780415037358
Book Description Routledge, 1989. Hardcover. Condition: Brand New. 1st edition. 224 pages. 8.50x5.59x0.79 inches. In Stock. Seller Inventory # __0415037352
Book Description Routledge, 1989. HRD. Condition: New. New Book. Delivered from our UK warehouse in 4 to 14 business days. THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Seller Inventory # IQ-9780415037358