Overview
This book synthesizes and extends modern political-economic theory to explain the postwar evolution of macroeconomic policy in developed democracies. The chapters study transfers, debt, and monetary/wage policy-making and outcomes, stressing that participation enhances transfer policy responsiveness to inequality and vice versa, that policy-making veto actors retard fiscal policy adjustments, inducing greater long run debt-responses to all other political-economic stimuli, and that monetary policy's nominal and real effects depend, respectively, on the broader political-economic interest structure and on wage price bargainers' sectorial composition and coordination.
- | Author: Robert J. Franzese
- | Publisher: Cambridge University Press
- | Publication Date: Feb 11, 2002
- | Number of Pages: 332 pages
- | Binding: Paperback or Softback
- | ISBN-10: 0521004411
- | ISBN-13: 9780521004411
