Monetary Policy and the German Unemployment Problem in Macroeconomic Models
ISBN:
978-3-642-06504-0
Auflage:
Softcover reprint of hardcover 1st ed. 2005
Verlag:
Springer Berlin
Land des Verlags:
Deutschland
Erscheinungsdatum:
09.04.2011
Reihe:
Kieler Studien - Kiel Studies
Format:
Softcover
Seitenanzahl:
288
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Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and modeling techniques inspired by new classical economics and real business cycle theory. It also probes in which direction models may be extended from here. Empirically, the book uses different econometric techniques to investigate the relevance and implications of different macroeconomic theories for German data. A key question this book investigates is the role of demand and supply side conditions for the increase in the German unemployment rate. On a policy level, the book relates the implications of the different theories to the ongoing debate on the appropriate roles of demand and supply side policies for curing the German unemployment problem.
Schlagwörter
Social & Economic Studies within the Framework of Emerging Global Developments - Volume 4
Erscheinungsjahr:
2023
