Macroeconomic Policy in the Canadian Economy

Overview

Macroeconomic Policy in the Canadian Economy investigates developments in Canada over the last forty years, using recent advances in the field of applied econometrics. In particular, the book analyzes the theoretical foundations of public sector activities and evaluates the several theories of government growth. Issues of convergence are also investigated as they manifest themselves in per capita income across Canadian provinces, and as to how successful government income equalization policies have been in ...

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Overview

Macroeconomic Policy in the Canadian Economy investigates developments in Canada over the last forty years, using recent advances in the field of applied econometrics. In particular, the book analyzes the theoretical foundations of public sector activities and evaluates the several theories of government growth. Issues of convergence are also investigated as they manifest themselves in per capita income across Canadian provinces, and as to how successful government income equalization policies have been in furthering such convergence. Moreover, the openness of the Canadian economy is investigated in terms of the importance of exports on GDP growth and of its participation in the world of an internationally integrated capital market.

The book also analyzes monetary policy issues and investigates the role of monetary aggregates and the effectiveness of monetary policy. Finally, it addresses the issue of the existence or not of electoral and partisan cycles in Canada, by incorporating both fiscal and monetary principles and applying them to the lively world of Canadian politics.

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Editorial Reviews

Booknews
Without expressing a value judgement as to which approach is preferable or more effective, Afxentiou and Serletis (both U. of Calgary) describe the monetary policy of Canada over the past four decades, the first part dominated by fiscal policies and the second by monetary policies. Neither do they enumerate the different fiscal or monetary measures introduced at various times during the period, but focus instead on certain strategic long- run fiscal or monetary relations as they relate to Canada. They cover long-run growth, fiscal policy, convergence, policy in the open economy, monetary policy, and elections and policy cycles. Annotation c. Book News, Inc., Portland, OR (booknews.com)
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Product Details

  • ISBN-13: 9781461353539
  • Publisher: Springer US
  • Publication date: 4/30/2013
  • Edition description: Softcover reprint of the original 1st ed. 2002
  • Edition number: 1
  • Pages: 208
  • Product dimensions: 6.14 (w) x 9.21 (h) x 0.47 (d)

Table of Contents

Introduction. Part 1: Long Run Growth. 1. Canadian Economic Development. Part 2: Fiscal Policy. 2. Government Functions and Policies. 3. Testing Wagner's Law. Part 3: Convergence. 4. Convergence in GDP. 5. Convergence in Government Spending. Part 4: Policy in the Open Economy. 6. The Role of Exports. 7. Saving, Investment, and Capitol Flows. Part 5: Monetary Policy. 8. Monetary Aggregates and Monetary Policy. 9. Common and Codependent Cycles. Part 6: Elections and Policy Cycles. 10. Electoral and Partisan Cycle Regularities. Conclusions and Epilogue. References. Author Index. Topic. Index.
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