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Author: Yoshiyasu Ono
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The Keynesian multiplier effect is reinterpreted and several issues that may have misled assessments of the effect of fiscal spending are discussed. It is shown that even in the textbook Keynesian framework some transfer policy 'reduces' aggregate demand and that public works spending may completely crowd out private consumption. Useless public works are found to be equivalent to transfers although they increase accounting national income more than transfers do. The net effect of fiscal spending on national benefits is explored and shown to equal only the direct benefit created by the spending.
Author: Yoshiyasu Ono
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The Keynesian multiplier effect is reinterpreted and several issues that may have misled assessments of the effect of fiscal spending are discussed. It is shown that even in the textbook Keynesian framework some transfer policy 'reduces' aggregate demand and that public works spending may completely crowd out private consumption. Useless public works are found to be equivalent to transfers although they increase accounting national income more than transfers do. The net effect of fiscal spending on national benefits is explored and shown to equal only the direct benefit created by the spending.
Author: Claude Gnos
Publisher: Routledge
ISBN: 1134361947
Category : Business & Economics
Languages : en
Pages : 221
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Book Description
Keynes' notion of "the multiplier" is central to the General Theory. The only book to tackle this important subject, The Keynesian Multiplier is sure to be a hit with macroeconomists everywhere.
Author: Ole Ohlson
Publisher: GRIN Verlag
ISBN: 3346655903
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
Bachelor Thesis from the year 2021 in the subject Economics - Monetary theory and policy, grade: 1,3, University of Frankfurt (Main), course: Wirtschaftswissenschaften, language: English, abstract: This thesis aims at giving a broad outlook on fiscal discussions and standpoints concerning crises which might occur and ultimately aims at answering the following question: How can financial authorities shape public spending and what are the steps necessary? – Lessons learned from the global financial crisis of 2008. The Keynesian multiplier process is a concept which was first introduced by Richard Kahn and later on carried further by John Maynard Keynes. This concept was rather simple and very intuitive; if a government increases its spending, the resulting output will increase as well. This became especially relevant in times of crises, when governments were aiming at raising their output. The analysis of how government spending would affect output became omnipresent and there are different standpoints in the literature concerning this, most of them focusing on different aspects, such as the timing of news, spillover effects to other countries, the general environment of the economies and also different model approaches to estimate said multiplier as good as possible and to include as many different determinants as possible.
Author: Claude E. Elias
Publisher:
ISBN:
Category : Multiplier (Economics)
Languages : en
Pages : 202
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Book Description
Author: Massimo De Angelis
Publisher:
ISBN:
Category :
Languages : en
Pages : 14
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Book Description
Author: Bradley W. Bateman
Publisher: Harvard University Press
ISBN: 9780674053540
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
Keynesian economics, which proposed that the government could use monetary and fiscal policy to help the economy avoid the extremes of recession and inflation, held sway for thirty years after World War II. However, it was discredited after the stagflation of the 1970s, which not only proved resistant to traditional Keynesian policies but was actually thought to be caused by them. By the 1990s, the anti-Keynesian counter-revolution seemed to reach its pinnacle with the award of several Nobel Prizes in economics to its architects at the University of Chicago. However, with the collapse of the dot-com boom in 2000 and the attacks of 9/11 a year later, the nature of macroeconomic policy debate took a turn. The collapse prompted a major shift in macroeconomic policy, as the Bush administration and other governments around the world began to resort to Keynesian measures--both monetary and fiscal policies--to stabilize the economy. The Keynesian rebirth has been most dramatically illustrated during the past year when central banks have pumped billions of dollars of liquidity into the world's financial system to address the crises of confidence, illiquidity, and insolvency that were triggered by the sub-prime lending crisis. The Return to Keynes puts Keynesian economics in a fresh perspective in order to assess this surprising new era in economic policy making.
Author: Daniel Aronoff
Publisher: Springer
ISBN: 1137547898
Category : Business & Economics
Languages : en
Pages : 299
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Book Description
In The Financial Crisis Reconsidered, Aronoff challenges the conventional view that reckless credit produced the US housing boom and the financial crisis, explaining how the large current account deficit, and its mercantilist origin, was a more fundamental cause. He also demonstrates that the decision to provide relief for bank creditors rather than underwater homeowners was responsible for the prolonged recession that followed the crisis. Aronoff proposes a novel theory to account for the ultimate origins of secular stagnation and economic volatility. He shows how accumulation, which occurs when a person or country earns more than it ever plans to spend, generates both an excess of saving and a deficiency in demand. While savings provide the funds to promote booms, under-consumption ensures that these booms will turn bust and that the economy will fall short of its potential growth rate. Aronoff argues that mercantilists and top income earners engage in accumulation, and that the influence of both types has grown in recent decades. Combining economic theory and historical narrative, this book offers a new perspective of the housing boom and the financial crisis, concluding with innovative policy proposals to reduce accumulation without compromising the benefits of a market economy.
Author: Ryuzo Kuroki
Publisher: Routledge
ISBN: 0415469775
Category : Biography & Autobiography
Languages : en
Pages : 290
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Book Description
Leading economists including Ed Nell and Heinz Kurz have joined forces in this volume with internationally respected Japanese scholars to produce a strong collection of contributions to the debate on Keynes' monumental legacy.
Author: Samuel Farber
Publisher: Univ of North Carolina Press
ISBN: 0807877093
Category : History
Languages : en
Pages : 228
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Book Description
Analyzing the crucial period of the Cuban Revolution from 1959 to 1961, Samuel Farber challenges dominant scholarly and popular views of the revolution's sources, shape, and historical trajectory. Unlike many observers, who treat Cuba's revolutionary leaders as having merely reacted to U.S. policies or domestic socioeconomic conditions, Farber shows that revolutionary leaders, while acting under serious constraints, were nevertheless autonomous agents pursuing their own independent ideological visions, although not necessarily according to a master plan. Exploring how historical conflicts between U.S. and Cuban interests colored the reactions of both nations' leaders after the overthrow of Fulgencio Batista, Farber argues that the structure of Cuba's economy and politics in the first half of the twentieth century made the island ripe for radical social and economic change, and the ascendant Soviet Union was on hand to provide early assistance. Taking advantage of recently declassified U.S. and Soviet documents as well as biographical and narrative literature from Cuba, Farber focuses on three key years to explain how the Cuban rebellion rapidly evolved from a multiclass, antidictatorial movement into a full-fledged social revolution.
Author: Per Gunnar Berglund
Publisher: Routledge
ISBN: 1135991634
Category : Business & Economics
Languages : en
Pages : 465
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Book Description
While recent developments in monetary theory have been fast to spread to policy analysis and practice and the media, the same is not true of fiscal policy, and a void has emerged. Issues such as timing, cyclical adjustments, long-term sustainability, and social implications are often seen as detached from discussions in the public arena. This book fills this gap. It delivers a keen assessment of the role and scope of current fiscal policy. New contributions and critical reviews of state of the art research analyze fiscal policy in terms of viability, potency, consequences and sustainability, and also shed light on its relation to economic and political ideas. The general tone of this volume is cautiously favourable of fiscal activism, although the emphasis is placed more on medium-term adjustments than on short-term ‘fine-tuning’. The authors believe that the legacy of the last fiscal revolution has been an excessively negative view of deficits and debt, and believe that this volume will contribute to open a dialogue on fiscal issues, and bring back a more balanced view of fiscal policy. With contributions from leading authorities including Barbara Bergmann, Jeffrey Frankel and David Colander, this is a major new contribution to the field.
