Macromiximisation (1980)

James Perkins

Chapter 3 in The Reform of Macroeconomic Policy, 2000, pp 28-52 from Palgrave Macmillan

Abstract: Abstract The theory of macroeconomic policy that has dominated thought and policy making since the later 1930s is essentially one-dimensional in the closed economy (and two-dimensional in the open economy). That is to say, in a closed economy we have been taught to operate on the level of demand — with any or every macroeconomic instrument. When inflation is too rapid the aim has been to use (some or all of) our policy instruments to reduce demand; and when unemployment is too high we have learned to raise the level of demand.

Keywords: Monetary Policy; Price Level; Current Account; Government Spending; Macroeconomic Policy (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28873-7_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230288737

DOI: 10.1057/9780230288737_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().