Advances in Japanese Business and Economics

Business Cycle Dynamics and Stabilization Policies

A Keynesian Approach

Authors: Hori, Hajime

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  • Develops a business cycle theory that features capital accumulation and involuntary unemployment, free of  the so-called real wage puzzle
  • Shows that sectoral imbalances are corrected by competitive investment allocation and that business cycle analysis can be conducted in terms of aggregate variables such as capital and labor
  • Proves that fiscal stabilization policies implemented too intensively can destabilize the business cycle dynamics owing to their crowding-out effect
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eBook 74,96 €
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  • ISBN 978-981-10-3081-9
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Hardcover 93,59 €
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  • ISBN 978-981-10-3080-2
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  • Usually dispatched within 3 to 5 business days.
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Softcover 93,59 €
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  • ISBN 978-981-10-9784-3
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  • Usually dispatched within 3 to 5 business days.
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About this book

This monograph is devoted to the analysis of the dynamics of business cycles and stabilization policies. The analysis is conducted in models of the AS-AD type, focusing on involuntary unemployment and capital accumulation. Major conclusions are the following. (1) Sectoral imbalances, once emphasized by such business-cycle theorists as K. Marx, A. Spiethoff, and F.A. Hayek, are rectified in finite time by competitive investment allocation, leaving aggregate variables as the main variables of business cycle dynamics. (2) The chronology of events during a cycle is established, which resolves the so-called real wage puzzle. (3) Owing to the crowding-out effect on investment, fiscal stabilization policies can destabilize the business cycle dynamics if implemented too intensively. (4) If coordinated properly, monetary stabilization policies can remove the destabilizing tendency of fiscal stabilization policies.

Table of contents (3 chapters)

Table of contents (3 chapters)

Buy this book

eBook 74,96 €
price for Spain (gross)
  • ISBN 978-981-10-3081-9
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 93,59 €
price for Spain (gross)
  • ISBN 978-981-10-3080-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
Softcover 93,59 €
price for Spain (gross)
  • ISBN 978-981-10-9784-3
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Business Cycle Dynamics and Stabilization Policies
Book Subtitle
A Keynesian Approach
Authors
Series Title
Advances in Japanese Business and Economics
Series Volume
15
Copyright
2017
Publisher
Springer Singapore
Copyright Holder
Springer Nature Singapore Pte Ltd.
Distribution Rights
Business cycles
eBook ISBN
978-981-10-3081-9
DOI
10.1007/978-981-10-3081-9
Hardcover ISBN
978-981-10-3080-2
Softcover ISBN
978-981-10-9784-3
Series ISSN
2197-8859
Edition Number
1
Number of Pages
XIII, 142
Topics