Macroeconomic Policy

This book, originally published in 1978, makes use of and extends first-year macroeconomic theory to examine how governments attempt to use the instruments of macroeconomic policy in order to acheive their objectives. It begins with a discussion of the meaning and desirability of policy objectives, moves on to examine the workings of the main policy instruments and concludes with a chapter which outlines Tinbergen’s ‘fixed’ targets’ and Theil’s ‘flexible targets’ approaches to policy. A chapter on debt management considers the main theories of the term strcutyure of interet rates and their implications for debt management as an instrument of policy.

This book, originally published in 1978, makes use of and extends first-year macroeconomic theory to examine how governments attempt to use the instruments of macroeconomic policy in order to acheive their objectives. It begins with a discussion of the meaning and desirability of policy objectives, moves on to examine the workings of the main policy instruments and concludes with a chapter which outlines Tinbergen’s ‘fixed’ targets’ and Theil’s ‘flexible targets’ approaches to policy. A chapter on debt management considers the main theories of the term strcutyure of interet rates and their implications for debt management as an instrument of policy.