: The later sections delve into the quantity of money, inflationary finance, and asset price bubbles. Key Features of the Text Mathematical Foundations
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The chapter provides a clear and concise presentation of these topics, making it accessible to graduate students and researchers familiar with intermediate-level macroeconomics.
When governments run deficits, how does it affect long-term growth? Through the lens of Intertemporal Macroeconomics , fiscal decisions are not viewed in isolation. Azariadis systematically breaks down the impacts of national debt across different economic environments: Economic Environment Impact of Government Deficits Long-Term Result Shifts consumption patterns between the young and old. Alters real interest rates. Growing Economies Crowd out private investments by absorbing loanable funds. Can permanently lower the steady-state capital stock. Dynamically Inefficient Markets : The later sections delve into the quantity
The largest bibliographic database dedicated to Economics. Publisher Portals
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3. "New" Directions and Topics in Intertemporal Macroeconomics
