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Political Economics and Macroeconomic Policy

Author

Listed:
  • Persson, Torsten

    (Institute for International Economic Studies, Stockholm University)

  • Tabellini , Guido

    (IGIER, Bocconi University)

Abstract

Traditional macroeconomic policy analysis asks the positive question of how the economy responds to alternative, but exogenous, policy actions or rules. Knowing these responses, the analyst can go to the normative problem of policy advice, The best action or rule is selected, given a specific obkective function. But as macroeconomists, we should also be able to shed light on a more ambitious set of questions. Why is it that we observe such different inflation rates across countries and time?, etc.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Persson, Torsten & Tabellini , Guido, 1997. "Political Economics and Macroeconomic Policy," Seminar Papers 630, Stockholm University, Institute for International Economic Studies.
    • Handle: RePEc:hhs:iiessp:0630
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    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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