Recent Books A basic, common sense in interest rates during the technique on analysis of the on the forces which determine
approach to predicting the swings business cycle. Bases much of the supply and demand for money and and influence them.
Macroeconomic Planning. Roger A. Bowles and David K. Whynes. Volume 14 of Studies in Economics, Charles Carter, ed. Boston: Allen and Unwin, 1979, 202 pp. $25.00 ($9.95 paperbound). A synthesis of traditional approaches to macroeconomics and central planning, both in the Eastern and Western styles. Applies basic optimization techniques to government decision making. Open Economy Macroeconomics. Rudiger Dornbusch. New York: Basic Books, 1980, 293 pp. $17.95. Given the preponderence of scholarly work currently being done on the Open Economy, it was only a matter of time before a text integrating the standard textbook closed economy macromodel with international trade and finance appeared. Prices and Quantities: A Macroeconomic Analysis. Arthur M. Okun. Washington, DC: The Brookings Institution, 1981,367 pp. $19.95 ($7.95 paperbound). Using implicit contract theory to describe modern labor and product markets, Okun provides a basis for the design of policies to deal with recurrent stagflation. Public Policy and the Tax System. G.A. Hughes and G.M. Heal, eds. Boston: Allen and Unwin, 1981, 228 pp. $29.95. A collection of review essays, describing various aspects of tax policy and public economics. The impact of fiscal policy on allocative efficiency and income distribution is given emphasis throughout. Regional Policy in the European Community. Douglas Yuill, Kevin Allen, and Chris Hull, eds. New York: St. Martin’s Press, 1980, 251 pp. $27.50. An overview of the EEC’s sytem of regional incentives-the redistribution of economic activity to regions most in need within the member nations. Reversing Economic Decline. John C. Carrington and George T. Edwards. New York: St. Martin’s Press, 1981, 194 pp. $27.50. 581