Long-run growth and short-run stabilization essays in memory of Albert Ando
There is much confusion in the economics literature on wage determination and the employment-inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the contributors e...
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| Format: | eBook |
| Language: | English |
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Northampton, Mass
Edward Elgar
2006
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| Collection: | Edward Elgar eBook Archive - Collection details see MPG.ReNa |
| Summary: | There is much confusion in the economics literature on wage determination and the employment-inflation trade-off. Few model builders pay as much careful attention to the definition and meaning of long-run concepts as did Albert Ando. Expanding on years of painstaking work by Ando, the contributors elaborate on the main issues of economic analysis and policies that concerned him The economics legacy of Albert Ando -- The age-saving profile and the life-cycle hypothesis -- Do capital gains affect consumption? Estimates of wealth effects from Italian households' behavior -- Demographic changes, reforms to the social security system and private savings in Italy -- Do the elderly dissave in Japan? -- On robust monetary policy -- The euro and the transmission of monetary policy -- Monetary and fiscal policy in a liquidity trap -- A three-factor yield curve model : non-affine structure, systematic risk sources and generalized duration -- The over-investment hypothesis -- Designing indexed units of account -- Land prices and business fixed investment in Japan -- Rationality, behavior and switching idiosyncracies in the euro-dollar exchange rate |
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| Physical Description: | xi, 409 p |
| ISBN: | 9781843766438 9781781950500 1843766434 |