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Monetary and Fiscal Dynamics

  • Book
  • © 1992

Overview

Authors:
  1. Michael Carlberg

    1. Department of Economics, Federal University, Hamburg 70, Germany

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Part of the book series: Studies in Contemporary Economics (CONTEMPORARY)

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Table of contents (33 chapters)

  1. Front Matter

    Pages I-1
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  2. Introduction

    1. Introduction

      • Michael Carlberg
      Pages 3-10

  3. Basic Model

    1. Front Matter

      Pages 11-11
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    2. Overlapping Generations

      • Michael Carlberg
      Pages 13-17

    3. Short-Run Equilibrium

      • Michael Carlberg
      Pages 18-20

    4. IS-LM and AD-AS Diagrams

      • Michael Carlberg
      Pages 21-24

    5. Long-Run Equilibrium

      • Michael Carlberg
      Pages 25-26

    6. Stability

      • Michael Carlberg
      Pages 27-31

    7. Monetary Shock

      • Michael Carlberg
      Pages 32-38

    8. Savings Shock

      • Michael Carlberg
      Pages 39-43

    9. Demographic Shock

      • Michael Carlberg
      Pages 44-46

    10. Investment Shock

      • Michael Carlberg
      Pages 47-50

    11. Wage Shock

      • Michael Carlberg
      Pages 51-53

    12. Flexible Money Wages

      • Michael Carlberg
      Pages 54-57

    13. Fixed Money Wages

      • Michael Carlberg
      Pages 58-69

    14. Monetary Policy

      • Michael Carlberg
      Pages 70-75

    15. Cyclical Adjustment

      • Michael Carlberg
      Pages 76-78

  4. Economy with Public Sector

    1. Front Matter

      Pages 79-79
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    2. Overlapping Generations

      • Michael Carlberg
      Pages 81-85

    3. Short-Run Equilibrium

      • Michael Carlberg
      Pages 86-88
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Keywords

About this book

The analysis will be conducted within an IS-LM model augmen- ted by the dynamics of money wages, private capital and public debt. A macroeconomic shock induces an extended process of adjustment that is characterized by unemployment. This in turn requires a dynamic path of monetary and fiscal policy: As a response to the shock, the central bank continuouslyadapts the quantity of money so as to keep up full employment all the time. And the government continuously accommodates its purchases of goods and services. Can this be sustained? Or will public debt tend to explode, thereby driving the stock of capial down to zero?

Authors and Affiliations

  • Department of Economics, Federal University, Hamburg 70, Germany

    Michael Carlberg

Bibliographic Information

  • Book Title: Monetary and Fiscal Dynamics

  • Authors: Michael Carlberg

  • Series Title: Studies in Contemporary Economics

  • DOI: https://doi.org/10.1007/978-3-642-47689-1

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Physica-Verlag Heidelberg 1992

  • Softcover ISBN: 978-3-7908-0619-9Published: 17 June 1992

  • eBook ISBN: 978-3-642-47689-1Published: 06 December 2012

  • Series ISSN: 1431-8806

  • Edition Number: 1

  • Number of Pages: VIII, 194

  • Topics: Economics, general

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