The Theory of Economic Policy in a Strategic Context

The Theory of Economic Policy in a Strategic Context

  • Electronic book text
By (author)  , By (author)  , By (author) 

List price: US$79.00

Currently unavailable

We can notify you when this item is back in stock

Add to wishlist

AbeBooks may have this title (opens in new window).

Try AbeBooks


In developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence, uniqueness, and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy more

Product details

  • Electronic book text
  • Cambridge University Press (Virtual Publishing)
  • Cambridge, United Kingdom
  • 16 b/w illus. 4 tables
  • 1139786652
  • 9781139786652

Table of contents

List of figures; List of tables; Preface; Common symbols; 1. An overview: the realm of economic policy; Part I. The Classical Theory of Economic Policy: 2. Statics; 3. Dynamics; Part II. From the Classical to the New Theory of Economic Policy: 4. The Lucas critique; 5. Policy games: an introduction; Part III. The New Theory of Economic Policy: Statics: 6. A theory of strategic conflict: foundations; 7. From individual players to system controllability; 8. Conflicts and coordination among groups; 9. Announcements as a coordination mechanism; Part IV. The New Theory of Economic Policy: Dynamics: 10. Controllability in a strategic dynamic setting; 11. Dynamic policy games with rational expectations; 12. Credibility, dynamic controllability and rational expectations; 13. Expectations and target coordination: institutional aspects; 14. A summary and round-up of conclusions; more

About Nicola Acocella

Nicola Acocella is Professor of Economic Policy at the University of Rome 'La Sapienza'. Giovanni Di Boartolomeo is Associate Professor of Economics at the University of Teramo, where he is also Director of the postgraduate course in Management and Business Communication. Andrew Hughes Hallett is Professor of Economics and Public Policy at George Mason University and Professor of Economics at the University of St Andrews. He is a Fellow of the Royal Society of more