Monetary Policy and Macroeconomic Stabilization

Name: Monetary Policy and Macroeconomic Stabilization
Brand: Taylor & Francis

Taylor & Francis

As a fundamental review and critique of activist economic policies, this book is a unique contribution to classical political economy > As a fundamental review and critique of activist economic policies, this book is a unique contribution to classical political economy. \""Monetary Policy and Macroeconomic Stabilization\"" is about macroeconomic stabilization policy, with emphasis on the value of a distinct national monetary policy to growth. Ole Bjorn Roste's argument is for public officials to restrain themselves in the pursuit of policy. As the author notes: when you know less, you should do less.The history of modern macroeconomics started in 1936 with the publication of Keynes' \""General Theory of Employment, Interest, and Money\"". The problems of the Great depression of the 1930s paved the way for a change of focus, from the long run to economic fluctuations in the short run, and from nominal to real variables, such as unemployment and aggregate output.Keynes offered clear poly