{"product_id":"9783540648727","title":"Macroeconomic Policy and Public Choice","description":"\u003ch1\u003eMacroeconomic Policy and Public Choice\u003c\/h1\u003e \u003ch2\u003eKiefer, David\u003c\/h2\u003e \u003cp\u003eSubject of this book is the intersection between political science and macroeconomics. The central idea is the existence of a political economic equilibrium in which the government acts to dampen the business cycle. The election cycle implies that this equilibrium may be a cycle rather than a point. An extension of new Keynesian theory provides a model of endogenous stabilization in which the government practices short-run stabilization policy which dampens the impact of exogenous shocks. This is a situation in which rational voters favor discretionary policy over a fixed policy rule even with rational economic agents. Special attention is given to the relevant data and to the possibilities of hypothesis testing.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer\u003c\/p\u003e \u003cp\u003ePublication Date: 1998-11-18\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9783540648727\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-3-642-60564-2\u003c\/p\u003e \u003cp\u003eDimensions: 235cm x155cm\u003c\/p\u003e \u003cp\u003ePages: 275\u003c\/p\u003e ","brand":"Springer Berlin Heidelberg","offers":[{"title":"Default Title","offer_id":44358619463820,"sku":"9783540648727","price":98.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9783540648727.jpg?v=1771527234","url":"https:\/\/lateknightbooks.com\/products\/9783540648727","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}