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The Debate Over Stabilization Policy.

MODIGLIANI, Franco:

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ISBN 10: 0521267900 / ISBN 13: 9780521267908
Published by Cambridge, etc.: University Press, 1986., 1986
Condition: Fine Hardcover
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About this Item

First Edition. xiv, 271 pp, 1 leaf; folding chart. Original cloth. Near Fine, in near fine dust jacket (very slightly sunned by a bookend). Contains Modigliani's four Raffaele Mattioli Foundation lectures. Pp. 213-50 = Biography of Modigliani; 227-44 = Publications; 245-50 = Contents of Vols. 1-3 of Modigliani's Collected Papers. Franco Modigliani: Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, 1985, "for his pioneering analyses of saving and of financial markets." Bookseller Inventory # 15265

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Bibliographic Details

Title: The Debate Over Stabilization Policy.

Publisher: Cambridge, etc.: University Press, 1986.

Publication Date: 1986

Binding: Hardcover

Book Condition: Fine

Dust Jacket Condition: Fine

Edition: 1st Edition

About this title

Synopsis:

This 1986 book examines some of the main issues that have characterized macroeconomics: the debate between 'monetarists' and 'Keynesians'; the response to demand shocks and supply shocks, by which the monetary authorities control aggregrate nominal income and the use and relevance of the money supply as a target; and the consumption function and the determinants of wealth. It shows that Keynesian stabilization policies succeeded in reducing instability due to demand shocks dramatically, but that no aggregrate demand policy can stabilize both price and employment simultaneously after a supply shock. However, by assigning an overall 'social cost' to (excess) unemployment and (initially) unexpected inflation, an optimism path can be derived. In looking at the consumption function and determinants of wealth the empirical evidence is shown to be most consistent with the life-cycle hypothesis. A concluding section is devoted to the impact on private and national society of the 'social security revolution'.

Book Description:

This 1986 book examines some of the main issues that have characterised macroeconomics: the debate between 'monetarists' and 'Keynesians'; the response to demand and supply shocks, by which the monetary authorities control aggregrate nominal income; and the consumption function and the determinants of wealth.

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CREDIT CARD ORDERS MAY ONLY BE ACCEPTED ON BEHALF OF ABE. Personal/bank/traveler's checks (made payable to Ted Kottler), money orders, international money orders are fine. All books are First Editions, in original cloth bindings, and in Very Good or better condition, unless otherwise noted. Returns: with prior notice and within 10 days. I am always interested in purchasing First Editions of scholarly, hardcover books in the history of science and the history of medicine, as well as First Edition...

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