Subject of this book is the intersection between political science and macroeconomics. The central idea is the existence of a political economic equilibrium in which the government acts to dampen the business cycle. The election cycle implies that this equilibrium may be a cycle rather than a point....

Ausführliche Beschreibung

Bibliographische Detailangaben

1. Verfasser:	Kiefer, David (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Berlin, Heidelberg Springer Berlin Heidelberg 1997
Ausgabe:	1st ed. 1997
Schlagworte:	Macroeconomics/Monetary Economics//Financial Economics Political Science Macroeconomics Political science Stabilitätspolitik Ökonomische Theorie der Politik Public-Choice-Theorie
Online-Zugang:	BTU01 Volltext
Zusammenfassung:	Subject of this book is the intersection between political science and macroeconomics. The central idea is the existence of a political economic equilibrium in which the government acts to dampen the business cycle. The election cycle implies that this equilibrium may be a cycle rather than a point. An extension of new Keynesian theory provides a model of endogenous stabilization in which the government practices short-run stabilization policy which dampens the impact of exogenous shocks. This is a situation in which rational voters favor discretionary policy over a fixed policy rule even with rational economic agents. Special attention is given to the relevant data and to the possibilities of hypothesis testing
Beschreibung:	1 Online-Ressource (XVII, 275 p)
ISBN:	9783642605642
DOI:	10.1007/978-3-642-60564-2