Nonfiction | Business & Investing

The Theory of Economic Policy in a Strategic Context

by Nicola Acocella

2020-08-25 12:47:49

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Developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to d... Read more
Developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence; uniqueness; and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy questions. Less

Book Details

File size10.94 X 8.46 X 0.71 in
Print pages448
PublisherCambridge University Press
Publication date November 1, 2012
Languageeng
ISBN9781139786652
autor-image
Nicola Acocella
Author
...

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