Description
In recent times the US economy has been characterised by burgeoning budget and current account deficits and increasing amounts of foreign capital inflows. For the UK too, the budget deficit remains a central weakness in the economy. In the light of these problems this book presents a consistent economic framework for analysing the effects and impli
Table of Contents
1. Introduction 2. Interpreting Budget Deficits 3. Stabilization 4. A Brief History of Government Expenditures and Deficits: From Truman to Reagan 5. Rational Expectations and the Demise of Stabilization 6. Rational Expectations: Some Common Misconceptions 7. Supply-Side Economics 8. Reaganomics And Deficits: Success, Failure Or Incomplete Revolution? 9. Another View Of The 1980's Deficits 10. Financing Budget Deficits 11. The Sustainability Of Deficits: Model Description. 12. The Solution Technique For Rational Expectations Models 13. Sustainability Under Exogenous Domestic Money 14. International Policy Coordination 15. Sustainability with Endogenous Money Creation: Case II 16. Some Macroeconomic Implications Of The Crash of 1987
