Theory of Economic Policy in a Strategic Context

A new unified theory of economic policy which responds to conflicts between strategic public and private policymakers.

List 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.

About the author

Nicola Acocella is Professor of Economic Policy at Università degli Studi di Roma 'La Sapienza', Italy.Giovanni Di Boartolomeo is Associate Professor of Economics at Università degli Studi di Teramo, Italy, where he is also Director of the postgraduate course in Management and Business Communication.Andrew Hughes Hallett is Professor of Economics and Public Policy at George Mason University, Virginia and Professor of Economics at the University of St Andrews. He is a Fellow of the Royal Society of Edinburgh.

Summary

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.

Product details

• Authors: Nicola Acocella, Nicola (Universit... Degli Studi DI Roma Acocella, Nicola (Universit... degli Studi di Roma 'La Sapienza' Acocella, Nicola (Universita Degli Studi DI Roma ' Acocella, Nicola (Universita degli Studi di Roma 'La Sapienza' Acocella, Acocella Nicola, Giovanni Di Bartolomeo, Giovanni (Universit... degli Studi di Teramo Di Bartolomeo, Giovanni (Universita degli Studi di Teramo Di Bartolomeo, Andrew Hughes Hallett, Andrew (George Mason University Hughes Hallett, Hughes Hallett Andrew
• Publisher: Cambridge University Press ELT
• Languages: English
• Product format: Paperback / Softback
• Released: 31.08.2018
• EAN: 9781108468824
• ISBN: 978-1-108-46882-4
• No. of pages: 448
• Subjects: Social sciences, law, business > Political science > Political science and political education; BUSINESS & ECONOMICS / Money & Monetary Policy, BUSINESS & ECONOMICS / Economics / Macroeconomics, macroeconomics, Monetary Economics