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Monetary and Fiscal Dynamics

Michael Carlberg author

Format:Paperback

Publisher:Springer-Verlag Berlin and Heidelberg GmbH & Co. KG

Published:17th Jun '92

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The analysis will be conducted within an IS-LM model augmen-ted by the dynamics of money wages, private capital andpublic debt.This in turn requires a dynamic path of monetary and fiscalpolicy: As a response to the shock, the central bankcontinuouslyadapts the quantity of money so as to keep upfull employment all the time.The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy: As a response to the shock, the central bank continuouslyadapts the quantity of money so as to keep up full employment all the time. And the government continuously accommodates its purchases of goods and services. Can this be sustained? Or will public debt tend to explode, thereby driving the stock of capial down to zero?

ISBN: 9783790806199

Dimensions: unknown

Weight: 370g

194 pages

Softcover reprint of the original 1st ed. 1992