Monetary and Fiscal Policy: Politics v. 2 (Monetary & Fiscal Policy)

ISBN 10: 0262660881 / ISBN 13: 9780262660884

Published by MIT Press, 1994

About this Item

Ancien livre de bibliothèque avec équipements. Edition 1994. Tome 2. Ammareal reverse jusqu'à 15% du prix net de cet article à des organisations caritatives. ENGLISH DESCRIPTION Book Condition: Used, Very good. Former library book. Edition 1994. Volume 2. Ammareal gives back up to 15% of this item's net price to charity organizations.

Seller Inventory # G-822-648

Bibliographic Details

• Title: Monetary and Fiscal Policy: Politics v. 2 (Monetary & Fiscal Policy)
• Publisher: MIT Press
• Publication Date: 1994
• Language: English
• ISBN 10: 0262660881
• ISBN 13: 9780262660884
• Binding: Softcover
• Condition: Très bon

About this title

Synopsis

How will the private sector react to different governmental policies? What policies will produce the most desirable outcomes? These two volumes bring together major contributions to a new theory of macroeconomic policy that analyzes which policies are credible or politically feasible, topics that are central to the practical policy debate but that traditional theory cannot address.Instead of looking at policy as an end product, the contributors approach policy as an ongoing process of revised goals, changes in tactics, and political pressures. They consider what kinds of incentives, within different institutional settings, drive policymaking and the behavior of policymakers. This approach allows more informed answers to questions of which policies are credible and which are politically feasible. It explains why certain monetary and fiscal policies get implemented, and provides insights into situations that occur repeatedly in macroeconomic policy such as the bias toward government deficits, partisan competition, and central bank independence.

Volume 1 examines problems of policy credibility caused by incentives to deviate from announced policy. Volume 2 looks at feasibility problems caused by political pressures generated by the electoral process, the politics of the public debt, issues of the redistribution of wealth, and conflict over the need for economic reforms. Sections are arranged so that the first chapter introduces a topic while those that follow expand on it. The editors provide substantial introductions to each volume as well as short comments at the beginning of each section within the volumes.

About the Author

Torsten Persson is Professor of Economics at the Institute for International Economic Studies, Stockholm University and winner of the 1997 Yrjö Jahnsson Prize. Guido Tabellini is Professor of Economics at the University of Brescia, Milan.