Macroeconomic Theory and Stabilisation Policy

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Philip Allan, Jun 1, 1988 - Business & Economics - 406 pages
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The role and conduct of macroeconomic policy is examined in the light of recent developments in theory. The first Chapter of the book is concerned with the debate about the nature and causes of unemployment and inflation. The second section investigates the theory of monetary and fiscal policy in closed and open economics. The final chapter contains a full analysis of macroeconomic interdependence and policy coordination. For advanced undergraduate and postgraduate students of macroeconomic theory and policy. Contents: Introduction: The Theory of Aggregate Demand; Classical Versus Keynesian Economics: The Debate on Underemployment Equilibrium; Aggregate Supply: Monetarism and New Classical Macroeconomics; Aggregate Supply and Stabilization Policies: The Keynesian Perspective; Money, Financial Markets, and Aggregate Demand; Fiscal Policy and Aggregate Demand; Macroeconomic Policy and the Balance of Payments; Macroeconomic Policy and the Exchange Rate; The Design of Macroeconomic Policy; International Interdependence and Policy Coordination; Bibliography; Author Index; Subject Index.

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Contents

The Debate on Underemployment
26
Monetarism and New Classical Macroeconomics
57
The Keynesian Perspective
101
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About the author (1988)

Mary Gregory is Deputy Head of the Department of Economics, Fellow, and Tutor at St Hilda's College, University of Oxford.

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