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Financial sectors in open economies: Empirical analysis and policy Issues
Recent Books lize several tools in their analyses of economic problems and events. The four lectures are titled Engel’s Law, The Iron Law of Wages, Gresham’s Law and The Law of One Price. The book concludes with a section for discussion and comments, and a biography and complete bibliography of Kindleberger’s works. Economic Papers, 1941-88. Josef Steindl. New York, NY: St. Martin’s Press, 1990. 386 pp. $45.00 ISBN o-312-03630-2. Josef Steindl, author of Maturity and Stagnation in American Capitalism, presents a collection of his essays spanning his entire career. His writings show the influence of Kale&, Keynes and Marx. The essays cover the following topics: the firm, technology, saving and economic policy, stochastic processes, and growth and cycle theory. Now retired, Steindl is a consultant at the Austrian Institute of Economic Research. The Economics of the Dollar CycZe. Stefan Gerlach and Peter A. Petri, eds. Cambridge, MA: The MIT Press, 1990. 381 pp. $37.50 ISBN 0-262-07124-X. The papers in this volume address the impact that the extreme shifts in the exchange rate during the 1980s had on the U.S., Europe, Japan and developing nations, as well as its effect on theories of international economics. Essays include “Eight Myths about the Dollar” by James Tobin; “Hindsight on the Strong Dollar” by Paul R. Krugman; “Exchange Rate Changes and Ratchet Effects: A Historical Perspective” by Charles P. Kindleberger; and “Japanese Corporate Adjustment to Yen Appreciation” by Ryuhei Wakasugi. The essays were invited papers written for a conference at Brandeis University in December 1987. Financial Sectors in Open Economies: Empirical Analysis and Policy Issues. Peter Hooper, et al. Washington, D.C.: Board of Governors of the Federal Reserve System, 1990. 592 pp. $25.00 No ISBN. This volume is an outgrowth of a May 1988 conference and preconference workshop sponsored by the Board of Governors of the Federal Reserve System in Washington, D.C. The conference focused on how, in the last decade, deregulation and changes in international financial markets heavily influenced the conduct of monetary policy and the empirical analysis of the behavior of the financial sectors in the U.S., Japan, Europe and Canada. Major topics include the demand for liquid assets and deposit prices in the 188
Recent Books U.S.; the demand for liquid assets in Japan, Germany and the U.K.; financial interactions among national economies; and implications for financial sector behavior in major industrial countries. A General Approach to Macroeconomic Policy. J.O.N. Perkins. St. Martin’s Press, 1990. 137 pp. $49.95 ISBN o-312-04896-3. This book examines the use of monetary policy, government outlays and taxation to obtain low inflation and low unemployment, as well as an acceptable balance of payments and a suitable level of private investment. It utilizes the results of simulations of several macroeconomic models from the EEC and the OECD to analyze the effects of each of the main macroeconomic tools on each of these objectives. J.O.N. Perkins is Professor Emeritus of Economics at the University of Melbourne.
Inflation and Unemployment: Macroeconomics with a Range of Equilibria. Ian M. McDonald. Basil Blackwell, Inc., 1990. 145 pp. $44.95 ISBN o-631-17301-3. This volume provides a macroeconomic theory that explains why high unemployment and high inflation persist throughout the industrialized world. The theory includes a range of equilibrium in which there is no tendency for the rate of inflation to change. Chapter topics include the problem of stagflation; retailing in a customer market; customer markets, efficiency wages and the range of equilibria; and customer markets, wage bargaining and the range of equilibria.
The Limits of Rationality.
Karen Schweers Cook and Margaret Levi. Chicago: The University of Chicago Press, 1990. 426 pp. $49.95 ISBN O-226-74239-3. This interdisciplinary book examines the limits of social science models based on rationality and studies the nature of the controversies surrounding the paradigm. The book brings together views on rational choice from political scientists, sociologists, philosophers, psychologists and economists. It stresses analyses of norms and institutions as a means of expanding rational choice theory. Karen Schweers Cook and Margaret Levi are, respectively, professor of sociology and professor of political science at the University of Washington.
Long Waves in Economic lishing
Company,
Development. Jan Reijnders. Cower Pub1990. 296 pp. $59.95 ISBN l-85278-339-7. 189
Recent Books U.S.; the demand for liquid assets in Japan, Germany and the U.K.; financial interactions among national economies; and implications for financial sector behavior in major industrial countries. A General Approach to Macroeconomic Policy. J.O.N. Perkins. St. Martin’s Press, 1990. 137 pp. $49.95 ISBN o-312-04896-3. This book examines the use of monetary policy, government outlays and taxation to obtain low inflation and low unemployment, as well as an acceptable balance of payments and a suitable level of private investment. It utilizes the results of simulations of several macroeconomic models from the EEC and the OECD to analyze the effects of each of the main macroeconomic tools on each of these objectives. J.O.N. Perkins is Professor Emeritus of Economics at the University of Melbourne.
Inflation and Unemployment: Macroeconomics with a Range of Equilibria. Ian M. McDonald. Basil Blackwell, Inc., 1990. 145 pp. $44.95 ISBN o-631-17301-3. This volume provides a macroeconomic theory that explains why high unemployment and high inflation persist throughout the industrialized world. The theory includes a range of equilibrium in which there is no tendency for the rate of inflation to change. Chapter topics include the problem of stagflation; retailing in a customer market; customer markets, efficiency wages and the range of equilibria; and customer markets, wage bargaining and the range of equilibria.
The Limits of Rationality.
Karen Schweers Cook and Margaret Levi. Chicago: The University of Chicago Press, 1990. 426 pp. $49.95 ISBN O-226-74239-3. This interdisciplinary book examines the limits of social science models based on rationality and studies the nature of the controversies surrounding the paradigm. The book brings together views on rational choice from political scientists, sociologists, philosophers, psychologists and economists. It stresses analyses of norms and institutions as a means of expanding rational choice theory. Karen Schweers Cook and Margaret Levi are, respectively, professor of sociology and professor of political science at the University of Washington.
Long Waves in Economic lishing
Company,
Development. Jan Reijnders. Cower Pub1990. 296 pp. $59.95 ISBN l-85278-339-7. 189