Research Catalog

Title

The theory of economic policy in a strategic context / Nicola Acocella, Giovanni Di Bartolomeo, Andrew Hughes Hallett.

Author

Acocella, Nicola, 1939-

Publication

Cambridge : Cambridge University Press, 2013.

Supplementary Content

• Cover image
• Contributor biographical information
• Publisher description

Items in the Library & Off-site

Details

Additional Authors

• Di Bartolomeo, Giovanni, 1969-
• Hughes Hallett, Andrew.

Description

xiv, 351 pages : illustrations; 25 cm

Summary

"Developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence; uniqueness; and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy questions"--

Subjects

• Rational expectations (Economic theory)
• Economic policy

Bibliography (note)

• Includes bibliographical references (pages 326-343) and index.

Contents

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 the conclusions.

Call Number

JBE 13-621

ISBN

• 9781107023864 (Hardback)
• 1107023866 (Hardback)

LCCN

• 2012018814
• 40021789435

OCLC

793973884

Author

Acocella, Nicola, 1939-

Title

The theory of economic policy in a strategic context / Nicola Acocella, Giovanni Di Bartolomeo, Andrew Hughes Hallett.

Publisher

Cambridge : Cambridge University Press, 2013.

Type of Content

text

Type of Medium

unmediated

Type of Carrier

volume

Bibliography

Includes bibliographical references (pages 326-343) and index.

Connect to:

Cover image

Contributor biographical information

Publisher description

Table of contents only

Added Author

Di Bartolomeo, Giovanni, 1969-

Hughes Hallett, Andrew.

Other Standard Identifier

40021789435

Research Call Number

JBE 13-621