Full Employment and Price Stability in a Global EconomyPaul Davidson, J. A. Kregel The economic performance of many countries has deteriorated significantly during the last decade. The 1990s witnessed a global recession, the Mexican currency crisis and later, the Asian and Russian crises. The objective of full employment and price stability appears to be an illusory goal for many of the economies of the emerging global market system. This book offers new policy prescriptions from the post Keynesian perspective to achieve full employment without inflation. Paul Davidson and Jan Kregel - both world renowned economists - have selected papers that rigorously examine real world issues including:
The book will be welcomed by economists, especially those interested in international economics, by politicians, policymakers and by all those concerned with global employment and inflation issues. |
Contents
Figures | 26 |
Economic integration the EMU and European regional growth | 28 |
Prospects for the single European currency and some proposals | 57 |
Copyright | |
12 other sections not shown
Common terms and phrases
adjustment arbitrage argued balance of payments behavior capital flows central bank changes commodity commodity money competition considered convergence convergence criteria costs countries criteria Davidson debt demand deposits dynamics Edward Elgar effect efficient endogenous equation equilibrium Europe European exchange rate expectations exports financial assets financial markets firms fiscal full employment future global gold standard government money growth rate households housing finance imperfect competition important income increasing returns inflation instability institutional interest rates investment investors Journal of Post Keynes Keynes's labour liabilities liquidity preference loans Maastricht Maastricht Treaty macroeconomic market maker market prices McCombie mechanism Minsky monetary policy money-wage and price mortgage neoclassical output Post Keynesian Economics price flexibility price stability private sector problem production profit purchasing rate of growth regional reserves result returns to scale single currency speculation Stiglitz supply theory Thirlwall Thirlwall's Law uncertainty units variables