Quantitative Economic Policy

Quantitative economic policy and econometrics were developed along with macroeconomics in the 1930s. Econometric techniques and models are still being used extensively in the business of forecasting and policy advice. In particular, policy simulations with econometric models have become standard tools for evaluating and designing macroeconomic stabilization policies. For instance, such studies provided important arguments for the popularization of the recent steps towards European integration such as the European Single Market, the European Monetary Union, and the Enlargement of the European Union. In this book, some recent advances in the theory and applications of quantitative economic policy are presented, with particular emphasis on fiscal and monetary policies in a European and global context. Andrew Hughes Hallett, a pioneer and major scientist in quantitative economic policy analysis, is being honoured by this volume, whose contributors are among his friends and former students.

Includes supplementary material: sn.pub/extras

Auteur
Dr. Christian Richter, Jahrgang 1974, studierte Betriebswirtschaft mit den Schwerpunkten Marketing, Organisation und Japanisch an der Universität Bayreuth. Seit 2000 arbeitet er als Berater bei Booz Allen Hamilton in München und promovierte als externer Doktorand am Lehrstuhl für strategisches Management und Organisation der HHL - Leipzig Graduate School of Management. Univ.-Prof. Dr. Reinhard Neck wurde 1951 in Wien geboren und studierte Volkswirtschaft und Sozial- und Wirtschaftsstatistik an der Universität Wien, wo er 1975 sub auspiciis praesidentis promoviert wurde. Die Habilitation erfolgte 1991 an der Wirtschaftsuniversität Wien. 1991 bis 1992 war er Joseph Schumpeter Research Fellow an der Harvard University, Cambridge, MA, 2001 Austrian Visiting Professor an der Stanford University, 2006 Visiting Research Fellow an der University of California at Berkeley (USA). Von 1992 bis 1997 war er Professor für Volkswirtschaftslehre an den Universitäten Bielefeld und Osnabrück (BRD), seit 1997 ist er Universitätsprofessor für Volkswirtschaftslehre an der Alpen-Adria-Universität Klagenfurt. In zahlreichen Publikationen hat er sich unter anderem mit Problemen der Wirtschaftspolitik, der Makroökonomik, der angewandten Ökono metrie, der Finanzwissenschaft, der europäischen Integration und mit philosophischen Problemen der Wirtschaftswissenschaften beschäftigt. Von 2007 bis 2008 war er Präsident der Nationalökonomischen Gesellschaft Österreichs.

Contenu
Optimal policy design in interdependent economies.- Quantitative Economic Policy Theory and Applications: Introduction and Overview.- Theory of Quantitative Economic Policy.- Towards a New Theory of Economic Policy: Continuity and Innovation.- If the Representative Agent is Used, Should He Be Believed? Aggregation, Welfare and the Role of Microfoundations in Quantitative Economic Policy.- Time Consistency, Subgame Perfectness, Solution Concepts and Information Patterns in Dynamic Models of Stabilization Policies.- Models of Endogenous Coalition Formation Between Fiscal and Monetary Authorities in the Presence of a Monetary Union.- Fiscal Policy.- Fiscal Federalism, Risk Sharing and the Persistence of Shocks.- Debating Fiscal Federalism in EMU: Plus ça change....- A Common Election Day for Euro-Zone Member States?.- Automatic Stabilisers and Budget Rules.- Monetary Policy.- Domestic and International Determinants of the Bank of England's Liquidity Ratios during the Classical Gold Standard, 18761913: An Econometric Analysis.- On the Transmission Mechanism of Monetary Policy.- From the EMS to EMU: Has There Been Any Change in the Behaviour of Exchange Rate Correlation?.- Optimum Monetary Policy during Monetary Union Enlargement.- When the Dollar Falls.- Monetary Policy in a Small Open Economy with High Unemployment.- Uncertainties Surrounding Natural Rate Estimates in the G7.