Macroeconomics, Trade, And Social Welfare (advances In Japanese Business And Economics)
by Michihiro Ohyama /
2016 / English / PDF
4.4 MB Download
This book develops new, original methods of welfare comparison
and comparative dynamics between distinct and discretely
positioned (rather than continuously related) socioeconomic
situations. These methods are not only realistic but also
extremely relevant to serious economic problems. Using them, the
book sheds illuminating new light on the theoretical analysis of
Keynesian economics and other important issues of political
economy. For instance, it shows that the principle of effective
demand applies exactly as Keynes put it to the unemployment
equilibrium in the short run. It also shows that the equilibrium
may change along the expansion path as the government chooses to
vary its expenditure to maximize national welfare. The same
methods are effectively employed theoretically to investigate
modern trade policy issues such as gains from trade, the theory
of tariffs, free trade agreements, and the role of the WTO. Those
methods are also used to study the welfare and efficiency of
various socioeconomic situations.
This book develops new, original methods of welfare comparison
and comparative dynamics between distinct and discretely
positioned (rather than continuously related) socioeconomic
situations. These methods are not only realistic but also
extremely relevant to serious economic problems. Using them, the
book sheds illuminating new light on the theoretical analysis of
Keynesian economics and other important issues of political
economy. For instance, it shows that the principle of effective
demand applies exactly as Keynes put it to the unemployment
equilibrium in the short run. It also shows that the equilibrium
may change along the expansion path as the government chooses to
vary its expenditure to maximize national welfare. The same
methods are effectively employed theoretically to investigate
modern trade policy issues such as gains from trade, the theory
of tariffs, free trade agreements, and the role of the WTO. Those
methods are also used to study the welfare and efficiency of
various socioeconomic situations.