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Michael Carlberg
Monetary and Fiscal Dynamics [PDF ebook]

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Cover of Michael Carlberg: Monetary and Fiscal Dynamics (PDF)

The analysis will be conducted within an IS-LM model augmen-ted by the dynamics of money wages, private capital andpublic debt. A macroeconomic shock induces an extendedprocess of adjustment that is characterized by unemployment. 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. And the governmentcontinuously accommodates its purchases of goods andservices. Can this be sustained? Or will public debt tend toexplode, thereby driving the stock of capial down to zero?

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Language English ● Format PDF ● ISBN 9783642476891 ● Publisher Physica-Verlag HD ● Published 2012 ● Downloadable 3 times ● Currency EUR ● ID 6378910 ● Copy protection Adobe DRM

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