Macroeconomic Policy as Implicit Industrial Policy: Its Industry and Enterprise Effects

Authors: Norsworthy, John Randolph, Tsai, Diana H.

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About this book

Whether they should or not, few economists do in fact refrain from making pronouncements on public policy, although the state of the economy (both here and elsewhere) suggests that either the advice given is bad or, if good, that it is ignored . . . I happen to think that we are appallingly ignorant about many aspects of the working of the economic system -- the economics of the firm and industry. Ronald H Coase, Economists and Public Policy In this volume we attempt to address an element of Coase's concern by linking the empirical economics of the fInn and industry more closely to macroeconomic policies, and to demonstrate how to assess some of the effects of those policies. The scope of our study ranges from a structural macroeconomic model of the United States, from which macroeconomic effects are propagated to detailed structural models of SIC four digit industries. The rationale for our approach is very much in the spirit of various integrated macroeconomic/industry models constructed by Dale Jorgenson, working with various collaborators. Our approach is also consistent with, and motivated by, Lawrence Klein's agenda of modeling explicitly and structurally the macro and sectoral elements in the national economy. We also examine the effects of the macroeconomic policies of different countries on the enterprise. In only one case, our examination of crowding out of private investment by government defIcit fmancing, is the linkage among sectors implicit.

Table of contents (11 chapters)

  • Introduction

    Norsworthy, John Randolph (et al.)

    Pages 1-12

  • Managed Trade and Targeted vs. Generic Industrial Policy

    Norsworthy, John Randolph (et al.)

    Pages 13-29

  • The User Cost of Capital: Link from Macroeconomic Policy to Business Decisions

    Norsworthy, John Randolph (et al.)

    Pages 30-40

  • Influences of Macroeconomic Policy on the Enterprise

    Norsworthy, John Randolph (et al.)

    Pages 41-64

  • A Context for Industrial Policy: History, Performance and Strategic Role of the Machine Tool Industry in the United States

    Norsworthy, John Randolph (et al.)

    Pages 65-95

Buy this book

eBook $149.00
price for USA (gross)
  • ISBN 978-1-4615-5443-1
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $199.00
price for USA
  • ISBN 978-0-7923-8075-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $199.00
price for USA
  • ISBN 978-1-4613-7485-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Macroeconomic Policy as Implicit Industrial Policy: Its Industry and Enterprise Effects
Authors
Copyright
1998
Publisher
Springer US
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-1-4615-5443-1
DOI
10.1007/978-1-4615-5443-1
Hardcover ISBN
978-0-7923-8075-7
Softcover ISBN
978-1-4613-7485-5
Edition Number
1
Number of Pages
XI, 262
Topics