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Macroeconomics and Varieties of Capitalism

David Soskice

in Beyond Varieties of Capitalism: Conflict, Contradictions, and Complementarities in the European Economy

Published in print:
2007
Published Online:
September 2008
ISBN:
9780199206483
eISBN:
9780191709715
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199206483.003.0003
Subject:
Business and Management, Political Economy

This chapter shows how production regimes are complementary to welfare state regimes and political systems, perusing a number of arguments which have been developed over the period since the original ... More


 Testing the Flexibility Paradigm: Canadian Labor Market Performance in International Context

Jim Stanford

in Fighting Unemployment: The Limits of Free Market Orthodoxy

Published in print:
2005
Published Online:
July 2005
ISBN:
9780195165845
eISBN:
9780199835515
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0195165845.003.0004
Subject:
Economics and Finance, Macro- and Monetary Economics

Like most of Europe, Canada experienced high levels of unemployment from the early 1980s through the late 1990s. It responded by introducing significant labor market reforms aimed at implementing ... More


New Keynesian Economics

Lutz G. Arnold

in Business Cycle Theory

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.003.0006
Subject:
Economics and Finance, Financial Economics

This chapter presents a real RBC-style model in which the interplay of real rigidities in the markets for credit and labor causes fluctuations. It also examines similar ideas in a monetarist-style ... More


 Turkey, 1980–2000: Financial Liberalization, Macroeconomic (In)Stability, and Patterns of Distribution

Korkut Boratav and Erinc Yeldan

in External Liberalization in Asia, Post-Socialist Europe, and Brazil

Published in print:
2006
Published Online:
May 2007
ISBN:
9780195189322
eISBN:
9780199783823
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189322.003.0014
Subject:
Economics and Finance, International

This chapter examines the facts and processes characterizing the dynamic macroeconomic adjustments in Turkey since the start of its reforms toward global integration. The study is organized as ... More


Keynesian Economics

Lutz G. Arnold

in Business Cycle Theory

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.003.0002
Subject:
Economics and Finance, Financial Economics

This chapter examines some of the most important developments in Keynesian economics — the Keynesian income expenditure analysis, the multiplier accelerator model, the Hicks-Fleming-Mundell model, ... More


 External Liberalization, Growth, and Distribution in China

Shantong Li

in External Liberalization in Asia, Post-Socialist Europe, and Brazil

Published in print:
2006
Published Online:
May 2007
ISBN:
9780195189322
eISBN:
9780199783823
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195189322.003.0003
Subject:
Economics and Finance, International

This chapter examines the effects of external liberalization on China's economic growth, employment, and income distribution. The sections are organized as follows. Section 1 describes China's macro ... More


The Anatomy of Economic Policy Making in the 1970s: ‘The Railway Timetables’

Douglas Wass

in Decline to Fall: The Making of British Macro-economic Policy and the 1976 IMF Crisis

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199534746
eISBN:
9780191715884
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199534746.003.0001
Subject:
Economics and Finance, Economic History

This chapter goes through the process by which macro-economic policy in the UK was made in the post-War years, and in particular, in the 1970s. It looks at the methodology of aggregate demand ... More


Stochastic Specification in an Aggregate Demand Model of the United Kingdom

David F. Hendry

in Econometrics: Alchemy or Science?: Essays in Econometric Methodology

Published in print:
2000
Published Online:
November 2003
ISBN:
9780198293545
eISBN:
9780191596391
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198293542.003.0003
Subject:
Economics and Finance, Econometrics

Empirical modelling is analysed and illustrated for a small system of aggregate demand relationships in the UK, using estimators specifically developed to tackle the problems of autocorrelation and ... More


Economic Growth and Recovery in the United States: 1919–1941

Alexander J. Field

in The Great Depression of the 1930s: Lessons for Today

Published in print:
2013
Published Online:
May 2013
ISBN:
9780199663187
eISBN:
9780191749216
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199663187.003.0012
Subject:
Economics and Finance, Economic History

The first part of this chapter provides an overview of what lay behind record productivity growth in the US economy between 1929 and 1941. The second part considers the role of rigidities and other ... More


Wage-Price Causality in the Egyptian Economy (1990–2005)

Hanaa Kheir-El-Din

in What Drives Prices in Egypt?: An Analysis in Light of International Experience

Published in print:
2009
Published Online:
September 2011
ISBN:
9789774163036
eISBN:
9781617970344
Item type:
chapter
Publisher:
American University in Cairo Press
DOI:
10.5743/cairo/9789774163036.003.0007
Subject:
Political Science, Political Economy

The consensus in the empirical literature is that higher wage growth does not cause higher inflation. Theory of the inflation process is caused by excess aggregate demand. It argues that expansionary ... More


Systemic Risks and the Macroeconomy

Gianni De Nicolò and Marcella Lucchetta

in Quantifying Systemic Risk

Published in print:
2013
Published Online:
September 2013
ISBN:
9780226319285
eISBN:
9780226921969
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226921969.003.0005
Subject:
Economics and Finance, Econometrics

This chapter presents a modeling framework that forecasts both indicators of systemic real risk and systemic financial risk, as well as stress tests of these indicators as impulse responses to ... More


Europe’s Real Economic Challenges

Martin Sandbu

in Europe's Orphan: The Future of the Euro and the Politics of Debt

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691175942
eISBN:
9781400885510
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691175942.003.0008
Subject:
Business and Management, Political Economy

This chapter defines the three main economic challenges of the members of the single currency. The first is to deal better with balance-of-payments crises — both finish the job of fixing the ... More


Macroeconomics of growth

Deepak Nayyar

in Resurgent Asia: Diversity in Development

Published in print:
2019
Published Online:
November 2019
ISBN:
9780198849513
eISBN:
9780191883620
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198849513.003.0003
Subject:
Economics and Finance, South and East Asia, Development, Growth, and Environmental

Economic growth over fifty years in the Asian-14 has been stunning. Investment and savings, which rose rapidly, were the main drivers of growth. Education was also a sustained driver of growth on the ... More


Applications of the Global Coordinate System

Yves Balasko

in General Equilibrium Theory of Value

Published in print:
2011
Published Online:
October 2017
ISBN:
9780691146799
eISBN:
9781400838912
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691146799.003.0006
Subject:
Economics and Finance, History of Economic Thought

The global coordinate system for the equilibrium manifold follows from: (1) the determination of the unique fiber F(b) through the equilibrium (ρ‎, ω‎) where b = φ‎((ρ‎, ω‎) = (ρ‎, ρ‎ · ρ‎1, …, ρ‎ · ... More


Re-embracing Keynes: Scholars, Admirers, and Sceptics in the Aftermath of the Crisis

Toshiaki Hirai, Maria Cristina Marcuzzo, and Perry Mehrling

in Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis

Published in print:
2013
Published Online:
May 2013
ISBN:
9780198092117
eISBN:
9780199082506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198092117.003.0001
Subject:
Economics and Finance, History of Economic Thought

This chapter investigates the aspects of Keynes’s analysis and recommendations that economists wish to see as accepted as well as rejected and misunderstood after the 2008–9 crisis. The suggestion is ... More


The Dog Called Investment

Toshiaki Hirai, Maria Cristina Marcuzzo, and Perry Mehrling

in Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis

Published in print:
2013
Published Online:
May 2013
ISBN:
9780198092117
eISBN:
9780199082506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198092117.003.0002
Subject:
Economics and Finance, History of Economic Thought

This chapter argues, contrary to the received view that Keynesianism is about regulating consumption spending to fine-tune the level of aggregate demand, that investment was always central to ... More


Lectures in Macroeconomics: A Capitalist Economy Without Unemployment

Kazimierz Łaski

Jerzy Osiatyński and Jan Toporowski (eds)

Published in print:
2019
Published Online:
August 2019
ISBN:
9780198842118
eISBN:
9780191878169
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198842118.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics, History of Economic Thought

These lectures in macroeconomics explain the theory and policy implications of macroeconomics in a systematic and logically consistent way. Central to this analysis is the principle of aggregate ... More


The Perverse Effects of Beneficial Constraints: Labour Market Institutions and Economic Performance in Europe

Bob Hancké

in Unions, Central Banks, and EMU: Labour Market Institutions and Monetary Integration in Europe

Published in print:
2013
Published Online:
September 2013
ISBN:
9780199662098
eISBN:
9780191749193
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199662098.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter analyses the debate on labour market institutions and economic performance in light of the discussion on EMU and wages in the previous chapters. It starts with a review of the negative ... More


What Is Stimulus without Debt?

Laurence Seidman

in How to Combat Recession: Stimulus without Debt

Published in print:
2018
Published Online:
May 2018
ISBN:
9780190462178
eISBN:
9780190462208
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780190462178.003.0003
Subject:
Economics and Finance, Public and Welfare

Stimulus without debt is a policy that would increase aggregate demand for goods and services in a recession without increasing government debt. Stimulus without debt consists of a transfer (not ... More


Hysteresis in Unemployment

Laurence Ball

in Understanding Inflation and the Implications for Monetary Policy: A Phillips Curve Retrospective

Published in print:
2009
Published Online:
August 2013
ISBN:
9780262013635
eISBN:
9780262258784
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262013635.003.0015
Subject:
Economics and Finance, Econometrics

This chapter addresses two broad issues. The first is whether there is clear evidence of hysteresis effects. To put it differently, can we reject the hypothesis that the non-accelerating inflation ... More


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