Studies in Medium-Run Macroeconomics

Download or read book Studies in Medium-Run Macroeconomics written by Hideyuki Adachi and published by World Scientific. This book was released on 2015-03-26 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume consists of studies on medium-run macroeconomics that deal with aggregate economic issues that do not easily fit into either short-run business cycles or long-term growth. This research area has emerged over last decade as a new and distinct field, and needs further explorations. The book includes theoretical as well as empirical studies that cover topics related to medium-run phenomena, such as ‘growth and fluctuations’, ‘wages and unemployment’, ‘financial instabilities’, ‘ firm size distributions and unbalanced growth’, ‘income inequality’, etc.. Every chapter includes new approach or new findings and will be invaluable to developments in this emerging area of research. Contents:Dynamic Macroeconomics of the Medium Run:Growth and Fluctuations in Demand-Constrained Economies: A Medium-Run Macrodynamic Analysis (Hideyuki Adachi and Tamotsu Nakamura)Wages and Unemployment in the Medium Run (Hideyuki Adachi and Yasuyuki Osumi)Economic Growth and Unemployment: Theoretical Foundations of Okun's Law (Hideyuki Adachi, Shin Imoto and Kazuyuki Inagaki)An Open Economy Model of Growth and Unemployment in the Medium Run (Hideyuki Adachi, Shin Imoto and Kenji Yamashita)Dynamic Macroeconomics of Financial Instability:A Macrodynamic Analysis of Financial Instability (Hideyuki Adachi and Atsushi Miyake)A Dynamic Analysis of an Economy with a Zero Interest Rate Bound (Hideyuki Adachi and Tamotsu Nakamura)Structural Change and Economic Growth:Aggregate Elasticity of Substitution and Structural Change (Yasuyuki Osumi)The Evolution of the Firm Size Distribution and Economic Growth (Hideyuki Adachi, Taiji Hagiwara and Yasutaka Tsunehiro)Labor Market and Income Inequality:Endogenous Skill Assignment, Productivity and Wage Inequalities (Takeshi Nakatani and Yasuyuki Osumi)Increases in Income Inequality and Non-Regular Employment: A Simple General Equilibrium Model (Keiya Minamimura, Tamotsu Nakamura and Minoru Watanabe)Increases in Non-Regular Employment and Asymmetric Labor Adjustments (Toyoki Matsue and Tamotsu Nakamura)Public Sector and Private Economy:The Role of Complementarity between Government Spending and Labor in Government Spending Multiplier: Evidence from Japan (Masataka Eguchi and Takao Fujii)The Intertemporal and Simultaneous Substitution Effects of a Consumption Tax Rate Increase: Evidence from Japan (Takeshi Koba and Haruhiko Shimizu) Readership: Graduate students and researchers who are interested in understanding medium-run macroeconomics. Key Features:One of the few books on medium-run macroeconomicsAnalyzes the roles of imperfections in macroeconomics instead of assuming perfect competition or rational expectations as the recent mainstream macro theory doesArticles present a variety of approaches to medium-run economic issuesKeywords:Medium-Run;Growth;Unemployment;Inequality