Overview
- 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
Part of the book series: Advances in Japanese Business and Economics (AJBE, volume 15)
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Table of contents (3 chapters)
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Bibliographic Information
Book Title: Business Cycle Dynamics and Stabilization Policies
Book Subtitle: A Keynesian Approach
Authors: Hajime Hori
Series Title: Advances in Japanese Business and Economics
DOI: https://doi.org/10.1007/978-981-10-3081-9
Publisher: Springer Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: Springer Nature Singapore Pte Ltd. 2017
Hardcover ISBN: 978-981-10-3080-2Published: 15 May 2017
Softcover ISBN: 978-981-10-9784-3Published: 29 July 2018
eBook ISBN: 978-981-10-3081-9Published: 09 May 2017
Series ISSN: 2197-8859
Series E-ISSN: 2197-8867
Edition Number: 1
Number of Pages: XIII, 142
Topics: Macroeconomics/Monetary Economics//Financial Economics, Economic Theory/Quantitative Economics/Mathematical Methods, Economic Policy