Political economy, growth, and business cycles
著者
書誌事項
Political economy, growth, and business cycles
MIT Press, c1992
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注記
Includes bibliographical references and index
内容説明・目次
内容説明
These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. What political and economic factors stimulate growth and make an economy expand? These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. Topics range from economic reform and price flexibility to the economic effects of political coups and include both theoretical analysis and empirical results.During the past decade, economists have seen important new developments linking growth and business cycles to government policy. These contributions provide a clear understanding of these processes and their effect in shaping economic policy. They look at the welfare side of economics and offer strong economic models to explain the connection between social policies and economic growth. For example, John Londregan and Keith Poole address the economic effects of political coups, Torsten Persson and Guido Tabellini explore the question of whether inequality is harmful for growth, and Stephen Parente and Edward Prescott look at the role of technology adoption in stimulating growth.The essays cover a wide range of approaches. Several focus on the interaction between growth and the choice of policy, where policy reacts to economic and distributional considerations through a majority rule process. Others take the policy as given and focus on the empirical estimation of the speed of convergence of rates of growth across states and regions and the importance of externalities and knowledge spillovers for rates of growth. Essays about the business cycle fall into two broad categories. One, arising from the new political economy tradition, examines the effects of elections and price decontrols on the business cycle. The other explores the implications of optimal economic policies in a representative agent framework for the cyclical behavior of the economy.
目次
- Part 1 Growth within politico-economic frameworks: growth, distribution, and politics, Torsten Persson and Guido Tabellini
- distribution, political conflict and economic growth - a simple theory and some empirical evidence, Alberto Alesina and Dani Rodrik
- the seizure of executive power and economic growth - some additional evidence, John Londregan and Keith Poole. Part 2 Growth within purely economic frameworks: endogenous macroeconomic growth theory, Elhanan Helpman
- the case for external economies, Ricardo J. Caballero and Richard K. Lyons
- convergence across states and regions, Robert J. Barro and Xavier Sala-i-Martin
- technology adoption and the mechanics of economic development, Stephen L. Parente Edward C. Prescott. Part 3 Business cycles within politico-economic frameworks: macroeconomic policy and elections in OECD democracies, Alberto Alesina, Gerald D. Cohen, and Nouriel Roubini
- should prices be decontrolled gradually or in a big bang?, Sweder van Wijnbergen. Part 4 Business cycles within purely economic frameworks: optimal fiscal and monetary policy - some recent results, V.V. Chari, Lawrence J. Christiano, and Patrick J. Kehoe
- the allocation of capital and time over the business cycle, Jeremy Greenwood and Zvi Hercowitz
- identification and the liquidity effect of a monetary policy shock, Lawrence J. Christiano and Martin Eichenbaum. Part 5 Labour market regulations and industry equilibrium: a framework for assessing aggregate consequences of labour market regulations, Hugo Hopenhayn and Richard Rogerson.
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