Applied macroeconomics for public policy /

Applied Macroeconomics for Public Policy applies system and control theory approaches to macroeconomic problems. The book shows how to build simple and efficient macroeconomic models for policy analysis. By using these models, instead of complex multi-criteria models with uncertain parameters, readers will gain new certainty in macroeconomic decision-making. As high debt to GDP ratios cause problems in societies, this book provides insights on improving economies during and after economic downturns. Provides a detailed analysis of existing macroeconomic models. Addresses the dynamics of debt to GDP ratio and the effects of fiscal and monetary policy on this ratio. Shows how to use models to evaluate the dynamics of the debt to GDP ratio in cases of government spending and tax cuts and to decide whether such economic measures are efficient. Uses optimal theory to obtain optimal yearly debt levels to reach the established goals (decrease debt or balance budget) Provides many examples and software exercises to promote learning by doing.Includes bibliographical references and index.Applied Macroeconomics for Public Policy applies system and control theory approaches to macroeconomic problems. The book shows how to build simple and efficient macroeconomic models for policy analysis. By using these models, instead of complex multi-criteria models with uncertain parameters, readers will gain new certainty in macroeconomic decision-making. As high debt to GDP ratios cause problems in societies, this book provides insights on improving economies during and after economic downturns. Provides a detailed analysis of existing macroeconomic models. Addresses the dynamics of debt to GDP ratio and the effects of fiscal and monetary policy on this ratio. Shows how to use models to evaluate the dynamics of the debt to GDP ratio in cases of government spending and tax cuts and to decide whether such economic measures are efficient. Uses optimal theory to obtain optimal yearly debt levels to reach the established goals (decrease debt or balance budget) Provides many examples and software exercises to promote learning by doing.Online resource; title from PDF title page (EBSCO, viewed June 26, 2018)Online resource; title from PDF title page (EBSCO, viewed September 6, 2018).Intro; Title page; Table of Contents; Copyright; About the Authors; Preface; Chapter One. Problems and Tools of Applied Macroeconomics; 1.1. Introduction; 1.2. Basic Goals and Parameters of Macroeconomic Systems; 1.3. Macroeconomic Time Series; 1.4. Theoretical Aspects of Stimulus and Austerity Policies; 1.5. Fiscal Multipliers; 1.6. Specifics of Macroeconomic Models; 1.7. The Debt to Gross Domestic Product Ratio as a Compromised Efficiency Criterion; Chapter Two. Fiscal Stimulus Policy; 2.1. Introduction; 2.2. The Debt to GDP Ratio Dynamics for Fiscal Expenditure Stimulus2.3. The Debt to GDP Ratio Dynamics for Fiscal Stimulus Policy2.4. Discrete Debt to GDP Ratio Dynamics Models for Fiscal Stimulus Policy; 2.5. Generalized Debt to GDP Ratio Dynamics Model; 2.6. The Consequences of High National Debt; Chapter Three. How Dangerous Is National Debt; 3.1. Introduction; 3.2. Optimal Approach to the Debt Reduction Problem; 3.3. Specifics of the Discrete Optimization Model; 3.4. Optimization Procedure and Debt Estimates; Chapter Four. Realization of Established Goals; 4.1. Introduction; 4.2. Analysis of Proposals Focused on Improving the Economy4.3. Politics and Economy: Problems Economists Evade4.4. Decision-Making During Periods of Economic Decline; 4.5. How to Improve the Economy; 4.6. Extending Macroeconomic Tools; Chapter Five. Debt-Related Models Software; 5.1. Introduction; 5.2. Software for the Debt to GDP Ratio Models; 5.3. Software for Optimal Problems; Afterword; Appendix A; Appendix B; Appendix C; Appendix D; Glossary; IndexElsevie