Macroeconomic theories and policies for the 1990s : a Scandinavian perspective

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Macroeconomic theories and policies for the 1990s : a Scandinavian perspective

Bruno Amoroso and Jesper Jespersen

Macmillan Academic and Professional, 1992

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Includes bibliographical references and index

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Description

The empirical record of macroeconomic theory is low. Monetarism and new classical economics have not been able to explain, in a convincing way, what happened during the 1980s. A more relevant economic theory is called upon, which should be established on the insight of all schools. Eventually the "Scandinavian Model", based on the thinking of the "Stockholm school", could be a starting point supplemented by the understanding of the functioning of a modern economy derived from Keynes, institutionalists and neoclassical economists. The importance of macro dynamics is stressed for understanding inflation, growth and distribution. The authors argue that macroeconomic policy, in the 1990s, will be dominated by Europe 1992. How can the Scandinavian Model be reshaped to design economic policies which reflect this changed map of a Europe without economic borders - not even towards the East. There will be a centre of economic gravitation and a number of periphery countries. The successful adoption of the Scandinavian Model to this changed situation is discussed. Finally the usefulness of this model for the developing countries is studied.

Table of Contents

  • Part 1 Macroeconomic theory: theoretical perspectives for the 1990's, Bjorn Thalberg
  • the limits to demand management in small and open economics, Torben Andersen
  • inflation, unemployment and the distribution of income, Peter Skott
  • economic consequences of debt deflation, Henrik Lando. Part 2 Macroeconomic policy: the Scandinavian model - past and present, Jesper Jesoersen
  • competition, cooperation and the social dimention - reviewing the 1992 proposal, Stuart Holland
  • European integration - propspects and challenge to the Scandinavian model, John Storm Pedersen
  • is the "Scandinavian Model" an alternative to "Communism" in Eastern Europe?, Bruno Amoroso
  • macro economics for developing countries - what have we learnt?, Knud Erik Svendsen.

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