Description

Book Synopsis
This new theory of economic policy accommodates and responds to conflicts between strategic actions by public and private agents. It is an essential tool for understanding the real impact of policy neutrality, rational expectations, time inconsistency and policy announcements, and suggests institution designs with optimal chances of success.

Table of Contents
List of figures; List of tables; Preface; Common symbols; 1. An overview: the realm of economic policy; Part I. The Classical Theory of Economic Policy: 2. Statics; 3. Dynamics; Part II. From the Classical to the New Theory of Economic Policy: 4. The Lucas critique; 5. Policy games: an introduction; Part III. The New Theory of Economic Policy: Statics: 6. A theory of strategic conflict: foundations; 7. From individual players to system controllability; 8. Conflicts and coordination among groups; 9. Announcements as a coordination mechanism; Part IV. The New Theory of Economic Policy: Dynamics: 10. Controllability in a strategic dynamic setting; 11. Dynamic policy games with rational expectations; 12. Credibility, dynamic controllability and rational expectations; 13. Expectations and target coordination: institutional aspects; 14. A summary and round-up of conclusions; References.

The Theory of Economic Policy in a Strategic

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    A Paperback by Nicola Acocella, Giovanni Di Bartolomeo, Andrew Hughes Hallett

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      Book details

      Publisher Cambridge University Press
      Published 8/30/2018 12:00:00 AM
      ISBN-13 9781108468824
      978-1108468824
      ISBN-10 1108468829
      Also in:
      Business, Finance & Law Macroeconomics

      Description

      Book Synopsis
      This new theory of economic policy accommodates and responds to conflicts between strategic actions by public and private agents. It is an essential tool for understanding the real impact of policy neutrality, rational expectations, time inconsistency and policy announcements, and suggests institution designs with optimal chances of success.

      Table of Contents
      List of figures; List of tables; Preface; Common symbols; 1. An overview: the realm of economic policy; Part I. The Classical Theory of Economic Policy: 2. Statics; 3. Dynamics; Part II. From the Classical to the New Theory of Economic Policy: 4. The Lucas critique; 5. Policy games: an introduction; Part III. The New Theory of Economic Policy: Statics: 6. A theory of strategic conflict: foundations; 7. From individual players to system controllability; 8. Conflicts and coordination among groups; 9. Announcements as a coordination mechanism; Part IV. The New Theory of Economic Policy: Dynamics: 10. Controllability in a strategic dynamic setting; 11. Dynamic policy games with rational expectations; 12. Credibility, dynamic controllability and rational expectations; 13. Expectations and target coordination: institutional aspects; 14. A summary and round-up of conclusions; References.

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