Goals of Macroeconomic Policy
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A01=Martin Prachowny
Active Stabilization Policy
Aggregate Supply Curve
Author_Martin Prachowny
Category=JPQB
Category=KC
Category=KCA
Category=KCB
Category=KCF
curve
Demand Curve
economic policy evaluation
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eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
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Excess Demand
Excess Supply
Full Employment
inflation dynamics
Involuntary Unemployment
Isoprofit Curve
labor
Labor Market
Labor Market Participants
labour market equilibrium
labour market policy effectiveness
Low Reservation Wage
macroeconomic theory
Marginal Product
market
median
Median Voter
Monetary Policy
Natural Rate
Nominal Wages
Pareto Improvements
phillips
Phillips Curve
Public Choice Decisions
public expenditure analysis
real
Real Wage
reservation
Reservation Wage
stabilization
Stabilization Policy
Stolper Samuelson Theorem
Supply Curve
Unemployment Rate
voter
wage
welfare economics
Product details
- ISBN 9780415107631
- Weight: 430g
- Dimensions: 138 x 216mm
- Publication Date: 16 Jun 1994
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Hardback
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Politicians win elections by promising 'Jobs! Jobs! Jobs!' but in practice these promises quickly fall by the wayside. The Goals of Macroeconomic Policy asks why. It begins with the observation that there is no convincing economic argument that full employment should be the primary objective of economic policy in all circumstances. In the light of this it examines whcy policy has failed so consistantly. It explains this by a theory of the labour market which shows why most workers are happy to operate in a way which militates against full employment. It then proceeds to analyse the rather dire consequences of this for the budget deficit.
Martin Prachowny is Professor of Economics at Queen’s University, where he has taught since 1967, while holding visiting positions at MIT and LSE. He is the author of five previous books, the most recent of which is Money in the Macroeconomy (CUP, 1985), and many journal articles in the area of macroeconomic policy.
