Quantitative Economic Policy: Essays in Honour of Andrew Hughes Hallett / Edition 1 available in Hardcover
- Pub. Date:
- Springer Berlin Heidelberg
Quantitative economic policy and econometrics were developed along with macroeconomics in the 1930s. Econometric techniques and models are still being used extensively in the business of forecasting and policy advice. In particular, policy simulations with econometric models have become standard tools for evaluating and designing macroeconomic stabilization policies. For instance, such studies provided important arguments for the popularization of the recent steps towards European integration such as the European Single Market, the European Monetary Union, and the Enlargement of the European Union. In this book, some recent advances in the theory and applications of quantitative economic policy are presented, with particular emphasis on fiscal and monetary policies in a European and global context. Andrew Hughes Hallett, a pioneer and major scientist in quantitative economic policy analysis, is being honoured by this volume, whose contributors are among his friends and former students.
Table of ContentsTheory of Quantitative Economic Policy.- Acocella, N., Di Bartolomeo, G.: Towards a New Theory of Economic Policy: Continuity and Innovation; Lewis, J.: If the Representative Agent is Used, Should He Be Believed? Aggregation, Welfare and the Role of Microfoundations in Quantitative Economic Policy; Dockner. E., Neck, R.: Time Consistency, Subgame Perfectness, Solution Concepts and Information Patterns in Dynamic Models of Stabilization Policies; Michalak, T. et al.: Models of Endogenous Coalition Formation Between Fiscal and Monetary Authorities in the Presence of a Monetary Union; Fiscal Policy.- Davis. S.: Fiscal Federalism, Risk Sharing and the Persistance of Shocks; Demertzis, M.: Debating Fiscal Federalism in EMU: Plus ça Change; Breuss, F.: A Common Election Day for Euro-Zone Member States? Andersen, T.M., Hougaard Jensen, S.E.: Automatic Stabilisers and Budget Rules; Monetary Police: Tullio, G., Wolter, J.: Domestic and International Determinants of the Bank of England's Liquidity Ratios During the Classical Gold Standard, 1876-1913: An Econometric Analysis; Richter, C.: On the Transmission Mechanism of Monetary Police; Siao-Ming Li: From the EMS to EMU: Hase There Been Any Change in the Bahaviour of Exchange Rate Correlation?; Önder, A.S.: Optimum Monetary Police During Monetary Union Enlargement; Wren-Lewis, S.: When the Dollar Falls; Malikane, C.; Semmler, W.: Monetary Policy in a Small Open Economy with High Unemployment; Cross,R., Darby, J., Ireland, J.: Uncertainties Surrounding Natural Rate Estimates in the G7.