1st Edition

Macroeconomic Policy Regimes in Western Industrial Countries

288 Pages 50 B/W Illustrations

by Routledge

288 Pages 50 B/W Illustrations

by Routledge

296 Pages

by Routledge

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Description

This book analyses how the economic crisis in the 1970s led to the erosion of the regulated type of capitalism that came to be in place after World War II, and paved the way to a Neoliberal Globalisation. Deep structural institutional changes especially in the field of financial markets, labour markets and the international economy became the basis for a liberal type of capitalism which included... Read more

1. Introduction 2. Macroeconomic policy regimes and their assessment 2.1 General Characteristics of an Economic Policy Regime 2.2 Financial systems 2.2.1 Prototypes of financial systems 2.2.2 The type of financial system prevailing today 2.3 Foreign economic policy 2.3.1 Institutional changes 2.3.2 External economic constraints and strategies 2.4. Monetary policy 2.4.1 Institutional changes 2.4.2 Monetary policy options 2.5 Wage policy 2.5.1 Wages, prices and the wage norm 2.5.2 Labour market institutions 2.6 Fiscal policy 2.6.1 Institutional changes 2.6.2 Fiscal policy options 2.7 Income distribution 2.7.1 Development of income distribution 2.7.2 Income distribution and growth 2.8 A growth promoting macroeconomic policy regime – a summary 3. Case studies 3.1 The finance-led growth model of the USA 3.2 The "popular" finance-led growth model of the United Kingdom 3.3 The exhaustion of the German export model 3.4 Japan and the return of deflation 4. A New Globalisation: A wage-led and investment-led reform strategy