Author: Andres Drobny
Publisher: Routledge
ISBN: 1134988028
Category : Business & Economics
Languages : en
Pages : 250
Book Description
With both Monetarist and Keynesian economic theory so closely bound up with employment levels and inflation, the contrast between the two models is here given thorough examination in light of real post-war data. Following the development of Monetarism as a reaction against Keynesian analysis, Drobny focuses on the importance of relative pricing within each approach as a basis for comparison. Drawing from both theories, the author forms models of labour demand and applies the conflicting results to a series of pragmatic tests, thereby highlighting the usefulness and the limitations of each standpoint.
General Theory Of Employment , Interest And Money
Author: John Maynard Keynes
Publisher: Atlantic Publishers & Dist
ISBN: 9788126905911
Category : Business & Economics
Languages : en
Pages : 410
Book Description
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Publisher: Atlantic Publishers & Dist
ISBN: 9788126905911
Category : Business & Economics
Languages : en
Pages : 410
Book Description
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Wage-Led Growth
Author: Engelbert Stockhammer
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329
Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Publisher: Springer
ISBN: 1137357932
Category : Business & Economics
Languages : en
Pages : 329
Book Description
This volume seeks to go beyond the microeconomic view of wages as a cost having negative consequences on a given firm, to consider the positive macroeconomic dynamics associated with wages as a major component of aggregate demand.
Real Wages and Employment
Author: Andres Drobny
Publisher: Routledge
ISBN: 1134988028
Category : Business & Economics
Languages : en
Pages : 250
Book Description
With both Monetarist and Keynesian economic theory so closely bound up with employment levels and inflation, the contrast between the two models is here given thorough examination in light of real post-war data. Following the development of Monetarism as a reaction against Keynesian analysis, Drobny focuses on the importance of relative pricing within each approach as a basis for comparison. Drawing from both theories, the author forms models of labour demand and applies the conflicting results to a series of pragmatic tests, thereby highlighting the usefulness and the limitations of each standpoint.
Publisher: Routledge
ISBN: 1134988028
Category : Business & Economics
Languages : en
Pages : 250
Book Description
With both Monetarist and Keynesian economic theory so closely bound up with employment levels and inflation, the contrast between the two models is here given thorough examination in light of real post-war data. Following the development of Monetarism as a reaction against Keynesian analysis, Drobny focuses on the importance of relative pricing within each approach as a basis for comparison. Drawing from both theories, the author forms models of labour demand and applies the conflicting results to a series of pragmatic tests, thereby highlighting the usefulness and the limitations of each standpoint.
The General Theory of Employment, Interest and Money
Author: John Maynard Keynes
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
The Economic and Fiscal Consequences of Immigration
Author: National Academies of Sciences, Engineering, and Medicine
Publisher: National Academies Press
ISBN: 0309444454
Category : Social Science
Languages : en
Pages : 643
Book Description
The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.
Publisher: National Academies Press
ISBN: 0309444454
Category : Social Science
Languages : en
Pages : 643
Book Description
The Economic and Fiscal Consequences of Immigration finds that the long-term impact of immigration on the wages and employment of native-born workers overall is very small, and that any negative impacts are most likely to be found for prior immigrants or native-born high school dropouts. First-generation immigrants are more costly to governments than are the native-born, but the second generation are among the strongest fiscal and economic contributors in the U.S. This report concludes that immigration has an overall positive impact on long-run economic growth in the U.S. More than 40 million people living in the United States were born in other countries, and almost an equal number have at least one foreign-born parent. Together, the first generation (foreign-born) and second generation (children of the foreign-born) comprise almost one in four Americans. It comes as little surprise, then, that many U.S. residents view immigration as a major policy issue facing the nation. Not only does immigration affect the environment in which everyone lives, learns, and works, but it also interacts with nearly every policy area of concern, from jobs and the economy, education, and health care, to federal, state, and local government budgets. The changing patterns of immigration and the evolving consequences for American society, institutions, and the economy continue to fuel public policy debate that plays out at the national, state, and local levels. The Economic and Fiscal Consequences of Immigration assesses the impact of dynamic immigration processes on economic and fiscal outcomes for the United States, a major destination of world population movements. This report will be a fundamental resource for policy makers and law makers at the federal, state, and local levels but extends to the general public, nongovernmental organizations, the business community, educational institutions, and the research community.
Employment and Real Wages in Rational Expectations Equilibrium
Author: George Alogoskoufis
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 24
Book Description
Behavioral Economics and Its Applications
Author: Peter Diamond
Publisher: Princeton University Press
ISBN: 1400829143
Category : Business & Economics
Languages : en
Pages : 331
Book Description
In the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent with traditional economics, has revolutionized the way economists view the world. But despite this general success, behavioral thinking has fundamentally transformed only one field of applied economics-finance. Peter Diamond and Hannu Vartiainen's Behavioral Economics and Its Applications argues that behavioral economics can have a similar impact in other fields of economics. In this volume, some of the world's leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated--public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics--an agenda that will interest policymakers, sociologists, and psychologists as well as economists. Contributors include Ian Ayres, B. Douglas Bernheim, Truman F. Bewley, Colin F. Camerer, Anne Case, Michael D. Cohen, Peter Diamond, Christoph Engel, Richard G. Frank, Jacob Glazer, Seppo Honkapohja, Christine Jolls, Botond Koszegi, Ulrike Malmendier, Sendhil Mullainathan, Antonio Rangel, Emmanuel Saez, Eldar Shafir, Sir Nicholas Stern, Jean Tirole, Hannu Vartiainen, and Timothy D. Wilson.
Publisher: Princeton University Press
ISBN: 1400829143
Category : Business & Economics
Languages : en
Pages : 331
Book Description
In the last decade, behavioral economics, borrowing from psychology and sociology to explain decisions inconsistent with traditional economics, has revolutionized the way economists view the world. But despite this general success, behavioral thinking has fundamentally transformed only one field of applied economics-finance. Peter Diamond and Hannu Vartiainen's Behavioral Economics and Its Applications argues that behavioral economics can have a similar impact in other fields of economics. In this volume, some of the world's leading thinkers in behavioral economics and general economic theory make the case for a much greater use of behavioral ideas in six fields where these ideas have already proved useful but have not yet been fully incorporated--public economics, development, law and economics, health, wage determination, and organizational economics. The result is an attempt to set the agenda of an important development in economics--an agenda that will interest policymakers, sociologists, and psychologists as well as economists. Contributors include Ian Ayres, B. Douglas Bernheim, Truman F. Bewley, Colin F. Camerer, Anne Case, Michael D. Cohen, Peter Diamond, Christoph Engel, Richard G. Frank, Jacob Glazer, Seppo Honkapohja, Christine Jolls, Botond Koszegi, Ulrike Malmendier, Sendhil Mullainathan, Antonio Rangel, Emmanuel Saez, Eldar Shafir, Sir Nicholas Stern, Jean Tirole, Hannu Vartiainen, and Timothy D. Wilson.
Post-Keynesian Economics
Author: Lavoie, Marc
Publisher: Edward Elgar Publishing
ISBN: 1839109629
Category : Business & Economics
Languages : en
Pages : 744
Book Description
This visionary Research Handbook presents the state of the art in research on policy design. By conceiving policy design both as a theoretical and a methodological framework, it provides scholars and practitioners with guidance on understanding policy problems and devising accurate solutions.
Publisher: Edward Elgar Publishing
ISBN: 1839109629
Category : Business & Economics
Languages : en
Pages : 744
Book Description
This visionary Research Handbook presents the state of the art in research on policy design. By conceiving policy design both as a theoretical and a methodological framework, it provides scholars and practitioners with guidance on understanding policy problems and devising accurate solutions.
The New Americans
Author: Panel on the Demographic and Economic Impacts of Immigration
Publisher: National Academies Press
ISBN: 0309521424
Category : Social Science
Languages : en
Pages : 449
Book Description
This book sheds light on one of the most controversial issues of the decade. It identifies the economic gains and losses from immigration--for the nation, states, and local areas--and provides a foundation for public discussion and policymaking. Three key questions are explored: What is the influence of immigration on the overall economy, especially national and regional labor markets? What are the overall effects of immigration on federal, state, and local government budgets? What effects will immigration have on the future size and makeup of the nation's population over the next 50 years? The New Americans examines what immigrants gain by coming to the United States and what they contribute to the country, the skills of immigrants and those of native-born Americans, the experiences of immigrant women and other groups, and much more. It offers examples of how to measure the impact of immigration on government revenues and expenditures--estimating one year's fiscal impact in California, New Jersey, and the United States and projecting the long-run fiscal effects on government revenues and expenditures. Also included is background information on immigration policies and practices and data on where immigrants come from, what they do in America, and how they will change the nation's social fabric in the decades to come.
Publisher: National Academies Press
ISBN: 0309521424
Category : Social Science
Languages : en
Pages : 449
Book Description
This book sheds light on one of the most controversial issues of the decade. It identifies the economic gains and losses from immigration--for the nation, states, and local areas--and provides a foundation for public discussion and policymaking. Three key questions are explored: What is the influence of immigration on the overall economy, especially national and regional labor markets? What are the overall effects of immigration on federal, state, and local government budgets? What effects will immigration have on the future size and makeup of the nation's population over the next 50 years? The New Americans examines what immigrants gain by coming to the United States and what they contribute to the country, the skills of immigrants and those of native-born Americans, the experiences of immigrant women and other groups, and much more. It offers examples of how to measure the impact of immigration on government revenues and expenditures--estimating one year's fiscal impact in California, New Jersey, and the United States and projecting the long-run fiscal effects on government revenues and expenditures. Also included is background information on immigration policies and practices and data on where immigrants come from, what they do in America, and how they will change the nation's social fabric in the decades to come.
The Wage Curve
Author: David G. Blanchflower
Publisher: MIT Press
ISBN: 9780262023757
Category : Business & Economics
Languages : en
Pages : 504
Book Description
The Wage Curve casts doubt on some of the most important ideas in macroeconomics, labor economics, and regional economics. According to macroeconomic orthodoxy, there is a relationship between unemployment and the rate of change of wages. According to orthodoxy in labor economics and regional economics an area's wage is positively related to the amount of joblessness in the area. The Wage Curve suggests that both these beliefs are incorrect. Blanchflower and Oswald argue that the stable relationship is a downward-sloping convex curve linking local unemployment and the level of pay. Their study, one of the most intensive in the history of social science, is based on random samples that provide computerized information on nearly four million people from sixteen countries. Throughout, the authors systematically present evidence and possible explanations for their empirical law of economics.
Publisher: MIT Press
ISBN: 9780262023757
Category : Business & Economics
Languages : en
Pages : 504
Book Description
The Wage Curve casts doubt on some of the most important ideas in macroeconomics, labor economics, and regional economics. According to macroeconomic orthodoxy, there is a relationship between unemployment and the rate of change of wages. According to orthodoxy in labor economics and regional economics an area's wage is positively related to the amount of joblessness in the area. The Wage Curve suggests that both these beliefs are incorrect. Blanchflower and Oswald argue that the stable relationship is a downward-sloping convex curve linking local unemployment and the level of pay. Their study, one of the most intensive in the history of social science, is based on random samples that provide computerized information on nearly four million people from sixteen countries. Throughout, the authors systematically present evidence and possible explanations for their empirical law of economics.