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Macroeconomics, Trade, and Social Welfare

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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.


Titel: Macroeconomics, Trade, and Social Welfare
Autoren/Herausgeber: Michihiro Ohyama
Aus der Reihe: Advances in Japanese Business and Economics
Ausgabe: 1st ed. 2016

ISBN/EAN: 9784431558057

Seitenzahl: 232
Format: 23,5 x 15,5 cm
Produktform: Hardcover/Gebunden
Gewicht: 537 g
Sprache: Englisch

Ohyama is a professor emeritus of Keio University, Tokyo, Japan. He is the former
president of the Japanese Economic Association and the Japan Society of
International Economics. His major publications include “On the Stability of
Generalized Metzlerian Systems,” Review
of Economic Studies, Vol. 39 (1972); “Trade and Welfare in General Equilibrium,”
Keio Economic Studies, Vol. 9 (1972);
and “Market, Trade and General Equilibrium,” Japanese Economic Review, Vol. 50 (1999).Professor
Ohyama conducted research at the University of New South Wales, Tel Aviv
University, and the University of Minnesota. His research has ranged from
general equilibrium theory to welfare economics, macroeconomics, and
international economics. References to his works are found in Keio Economic Studies 42(1–2), 2005, a special
issue in his honor.

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