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Business cycle dynamics and stabiliz...

Hori, Hajime.

Business cycle dynamics and stabilization policiesa Keynesian approach /

Record Type:	Electronic resources : Monograph/item
Title/Author:	Business cycle dynamics and stabilization policiesby Hajime Hori.
Reminder of title:	a Keynesian approach /
Author:	Hori, Hajime.
Published:	Singapore :Springer Singapore :2017.
Description:	xiii, 142 p. :ill., digital ;24 cm.
Contained By:	Springer eBooks
Subject:	Business cyclesMathematical models.
Online resource:	http://dx.doi.org/10.1007/978-981-10-3081-9
ISBN:	9789811030819$q(electronic bk.)

Business cycle dynamics and stabilization policiesa Keynesian approach /
Hori, Hajime.

Business cycle dynamics and stabilization policiesa Keynesian approach /[electronic resource] :by Hajime Hori. - Singapore :Springer Singapore :2017. - xiii, 142 p. :ill., digital ;24 cm. - Advances in Japanese business and economics,v.152197-8859 ;. - Advances in Japanese business and economics ;2..

1 An Aggregative Model of Unemployment, Cycles, and Growth -- 2 A Hicksian Two-Sector Model of Unemployment, Cycles, and Growth -- 3 Stabilization Policies and Business Cycle Dynamics -- References -- Index.

This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.

ISBN: 9789811030819$q(electronic bk.)

Standard No.: 10.1007/978-981-10-3081-9doiSubjects--Topical Terms:

230422
Business cycles
--Mathematical models.

LC Class. No.: HB3711 / .H67 2017

Dewey Class. No.: 338.542015195

Business cycle dynamics and stabilization policiesa Keynesian approach /
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505 0 $a 1 An Aggregative Model of Unemployment, Cycles, and Growth -- 2 A Hicksian Two-Sector Model of Unemployment, Cycles, and Growth -- 3 Stabilization Policies and Business Cycle Dynamics -- References -- Index.
520 $a This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.
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