| 期刊全稱 | Business Cycle Dynamics and Stabilization Policies | | 期刊簡稱 | A Keynesian Approach | | 影響因子2023 | Hajime Hori | | 視頻video | http://file.papertrans.cn/193/192071/192071.mp4 | | 發(fā)行地址 | Develops a business cycle theory that features capital accumulation and involuntary unemployment, free of the so-called real wage puzzle.Shows that sectoral imbalances are corrected by competitive inv | | 學(xué)科分類 | Advances in Japanese Business and Economics | | 圖書封面 |  | | 影響因子 | 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. | | Pindex | Book 2017 |
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