Anti-blanchard macroeconomics: a comparative approach
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English Italian |
| Veröffentlicht: |
Chelterham, Uk ; Northampton, MA
Edward Elgar Publishing
[2018]
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | A revised and updated version of the third Italian edition: Brancaccio, Emiliano (2017), Anti-Blanchard. Un approccio comparato allo studio della macroeconomia (terza edizione), Milano, Italia: Franco Angili. ISBN: 978-88-917-5119-5 |
| Beschreibung: | xiv, 158 Seiten Diagramme |
| ISBN: | 9781788118996 9781788979931 |
Internformat
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Datensatz im Suchindex
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|---|---|
| adam_text | Contents
Presentation viii
Mauro Gallegati
Preface xi
Robert Skidelsky
Acknowledgements xiv
1 Introduction 1
2 Blanchard’s AS-AD model 6
2.1 Structure of the traditional AS-AD model 6
2.2 From the IS—LM model to the aggregate demand 6
2.3 Monetary wage and real wage demanded by workers 10
2.4 Price level and the real wage offered by firms 13
2.5 Natural” equilibrium in the AS-AD mainstream model 16
2.6 Only the natural” equilibrium can guarantee price and
wage stability 18
2.7 From the labour market to the aggregate supply 19
2.8 AS-AD model 23
2.9 Expansionary policy is not essential in order to overcome a
crisis 24
2.10 Natural” equilibrium and the limits to expansionary policy 27
2.11 Neutrality of money and contractionary policy 29
2.12 Conflicts over wage are useless and harmful 31
2.13 Virtues of wage moderation 33
2.14 Oil, anti-trust, technological unemployment 35
2.15 Conclusions reached by the AS-AD model 38
3 The alternative model 39
3.1 A different view on the economic system 39
3.2 Blanchard’s downward sloping AD curve: a critique 39
3.3 Critique of the exogenous nature of fx and z 42
3.4 Complete alternative model 44
3.5 Market forces alone cannot put an end to the crisis 45
v
VI
Anti-Blanchard macroeconomics
3.6 Expansionary policy can have a permanent effect on the
equilibrium 47
3.7 Conflict versus wage moderation 49
3.8 The case of the horizontal AS 52
3.9 The case of the upward sloping AD: debt deflation 55
3.10 The alternative model: other examples 57
3.11 Mainstream replicas - and critical economists rejoinder 57
3.12 Actual limits of the alternative model and perspectives for
further research 61
4 Blanchard’s “new approach”: the IS-LM-PC model 63
4.1 From the AS-AD model to the IS-LM-PC model 63
4.2 Horizontal LM, real interest rate and risk premium 63
4.3 The “extended” IS-LM model 67
4.4 The labour market and the Phillips curve are added to the
model 69
4.5 The complete IS-LM-PC model 72
4.6 The economic crisis according to the IS-LM-PC model 74
4.7 From the AS-AD model to the IS-LM-PC model:
continuity or break-up? 77
4.8 Critiques of the IS-LM-PC model from the perspective of
the alternative approach 79
5 The competing approaches: theory and policy 82
5.1 Comparing the two models: an algebraic representation 82
5.2 Two competing interpretations of the economic crisis 87
5.3 Alternative monetary policy rules 99
5.4 Sustainability of public debt 105
5.5 Hysteresis of unemployment 113
5.6 Wage competition between countries in the framework of
an open economy 118
5.7 Alternative theories of growth and income distribution 120
5.8 Labour flexibility, employment and unemployment 125
Appendix 1 Labour flexibility and unemployment 129
Domenico Suppa
Al.l Introduction 129
Contents vii
A1.2 Correlation index and simple regression in brief 130
A1.3 The relationship between EPL and unemployment rate 137
Appendix 2 Contractionary fiscal policy and fiscal multipliers 141
Andrea Califano and Fabiana De Cristofaro
A2.1 Introduction 141
A2.2 Austerity and fiscal multipliers 141
A2.3 Blanchard and Leigh’s test 142
A2.4 Debate around the test 146
A2.5 Blanchard and Leigh’s test and macroeconomic theory 147
Further reading 149
Index 153
|
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| isbn | 9781788118996 9781788979931 |
| language | English Italian |
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| spelling | Brancaccio, Emiliano 1971- (DE-588)1013094492 aut Anti-Blanchard. Un approccio comparato allo studio della macroeconomia Anti-blanchard macroeconomics a comparative approach Emiliano Brancaccio (University of Sannio, Italy) with Andrea Califano (University School for Advanced Studies, IUSS Pavia and Sant' Anna School of Advanced Studies, Pisa, Italy) ; translation by Andrea Califano Chelterham, Uk ; Northampton, MA Edward Elgar Publishing [2018] © 2018 xiv, 158 Seiten Diagramme txt rdacontent n rdamedia nc rdacarrier A revised and updated version of the third Italian edition: Brancaccio, Emiliano (2017), Anti-Blanchard. Un approccio comparato allo studio della macroeconomia (terza edizione), Milano, Italia: Franco Angili. ISBN: 978-88-917-5119-5 Wirtschaftstheorie (DE-588)4079351-5 gnd rswk-swf Neue Makroökonomie (DE-588)4120793-2 gnd rswk-swf Alternative Wirtschaft (DE-588)4120871-7 gnd rswk-swf (DE-588)4123623-3 Lehrbuch gnd-content Wirtschaftstheorie (DE-588)4079351-5 s Alternative Wirtschaft (DE-588)4120871-7 s Neue Makroökonomie (DE-588)4120793-2 s DE-604 Califano, Andrea (DE-588)1261331338 aut trl Erscheint auch als Online-Ausgabe 978-1-78811-900-9 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030477562&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Brancaccio, Emiliano 1971- Califano, Andrea Anti-blanchard macroeconomics a comparative approach Wirtschaftstheorie (DE-588)4079351-5 gnd Neue Makroökonomie (DE-588)4120793-2 gnd Alternative Wirtschaft (DE-588)4120871-7 gnd |
| subject_GND | (DE-588)4079351-5 (DE-588)4120793-2 (DE-588)4120871-7 (DE-588)4123623-3 |
| title | Anti-blanchard macroeconomics a comparative approach |
| title_alt | Anti-Blanchard. Un approccio comparato allo studio della macroeconomia |
| title_auth | Anti-blanchard macroeconomics a comparative approach |
| title_exact_search | Anti-blanchard macroeconomics a comparative approach |
| title_full | Anti-blanchard macroeconomics a comparative approach Emiliano Brancaccio (University of Sannio, Italy) with Andrea Califano (University School for Advanced Studies, IUSS Pavia and Sant' Anna School of Advanced Studies, Pisa, Italy) ; translation by Andrea Califano |
| title_fullStr | Anti-blanchard macroeconomics a comparative approach Emiliano Brancaccio (University of Sannio, Italy) with Andrea Califano (University School for Advanced Studies, IUSS Pavia and Sant' Anna School of Advanced Studies, Pisa, Italy) ; translation by Andrea Califano |
| title_full_unstemmed | Anti-blanchard macroeconomics a comparative approach Emiliano Brancaccio (University of Sannio, Italy) with Andrea Califano (University School for Advanced Studies, IUSS Pavia and Sant' Anna School of Advanced Studies, Pisa, Italy) ; translation by Andrea Califano |
| title_short | Anti-blanchard macroeconomics |
| title_sort | anti blanchard macroeconomics a comparative approach |
| title_sub | a comparative approach |
| topic | Wirtschaftstheorie (DE-588)4079351-5 gnd Neue Makroökonomie (DE-588)4120793-2 gnd Alternative Wirtschaft (DE-588)4120871-7 gnd |
| topic_facet | Wirtschaftstheorie Neue Makroökonomie Alternative Wirtschaft Lehrbuch |
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