Sustaining Domestic Budget Deficits in Open Economies
Autor Farrokh Langdanaen Limba Engleză Hardback – 7 dec 1989
In the light of these problems this book presents a consistent economic framework for analysing the effects and implications of large bond-financed deficits. The author uses an open-economy rational expectations model to explore to what extent governments can simply 'roll-over' debt by issuing more bonds without any help from the monetary authority. He examines too, the impact of foreign capital on the sustainability of domestic budget deficits the behaviour of exchange rates and the possible effects of fiscal and monetary policies. This model is placed in the context of the major economic orthodoxies and their competing stances and also of American monetary history from Truman to Reagan and the crash of 1987.
Focusing attention on a major problem in macroeconomics and for the chancellors of a number of economies, the book makes an important contribution to the understanding of this complex area.
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Specificații
ISBN-13: 9780415037358
ISBN-10: 0415037352
Pagini: 224
Dimensiuni: 138 x 216 x 21 mm
Greutate: 0.45 kg
Ediția:1
Editura: Taylor & Francis
Colecția Routledge
Locul publicării:Oxford, United Kingdom
ISBN-10: 0415037352
Pagini: 224
Dimensiuni: 138 x 216 x 21 mm
Greutate: 0.45 kg
Ediția:1
Editura: Taylor & Francis
Colecția Routledge
Locul publicării:Oxford, United Kingdom
Cuprins
1. Introduction 2. Interpreting Budget Deficits 3. Stabilization 4. A Brief History of Government Expenditures and Deficits: From Truman to Reagan 5. Rational Expectations and the Demise of Stabilization 6. Rational Expectations: Some Common Misconceptions 7. Supply-Side Economics 8. Reaganomics And Deficits: Success, Failure Or Incomplete Revolution? 9. Another View Of The 1980's Deficits 10. Financing Budget Deficits 11. The Sustainability Of Deficits: Model Description. 12. The Solution Technique For Rational Expectations Models 13. Sustainability Under Exogenous Domestic Money 14. International Policy Coordination 15. Sustainability with Endogenous Money Creation: Case II 16. Some Macroeconomic Implications Of The Crash of 1987
Descriere
In both the UK and USA economies the budget deficit remains a central weakness. In the light of this problem this book presents a consistent economic framework for analysing the effects and implications of large bond-financed deficits.