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Macroeconomic Policies of Developed Democracies (Cambridge Studies in Comparative Politics)

Macroeconomic Policies of Developed Democracies (Cambridge Studies in Comparative Politics)

ISBN: 9780521004411
Publisher: Cambridge University Press
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$27.22 $57.00

This book synthesizes and extends modern political-economic theory to explain the postwar evolution of macroeconomic policy in developed democracies. The chapters study transfers, debt, and monetary/wage policy-making and outcomes, stressing that participation enhances transfer policy responsiveness to inequality and vice versa, that policy-making veto actors retard fiscal policy adjustments, inducing greater long run debt-responses to all other political-economic stimuli, and that monetary policy's nominal and real effects depend, respectively, on the broader political-economic interest structure and on wage price bargainers' sectorial composition and coordination.

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