Economic Theory and Policy
Published on 1. October 1990
Book
Hardback
290 pages
978-0-19-562545-5 (ISBN)
Description
Each of the fifteen contributions to this volume explores a particular area of economic theory, presenting fresh insights and analyses. The first three chapters, on macroeconomics and policy, study the effects of wage-cuts, administered prices, deficit financing and other monetary measures taken by the government. Part II discusses the economics of equilibrium and welfare, analysing the implications for decentralization in growth models with non-equilibrium prices. In Part III on economic growth, the question of decentralization is addressed from a different perspective. Part IV examines industrial organization - the effect of innovation incentives; the pros and cons of restrictions on firms entering an industry; and the question of competitive reward schemes within organizations. Finally, there are three studies in international economics: on the relationship between the terms of trade and the real income of an LDC which is trading with a developed country; the problems with traditional theories of devaluation when applied to LDCs; and the effects of free trade on unemployment.
More details
Language
English
Place of publication
New Delhi
India
Target group
College/higher education
Professional and scholarly
Illustrations
frontispiece, line figures
ISBN-13
978-0-19-562545-5 (9780195625455)
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Schweitzer Classification
Persons
Content
Part I: Macroeconomics and Policy: Amitava Bose: Wage cuts and self-fulfilling beliefs; Dipankar Dasgupta: Reflections on administered prices; Rajat Deb: Deficit financing and the quantity theory of money; Part II: Equilibrium and Welfare: Mukul Majumdar & Debraj Ray: On decentralization and increasing returns: Robinson Crusoe revisited; Anjan Mukherji: A non-tatonnement process; Abhijit Vinayak Banerjee: Envy; Part III: Economic Growth: Swapan Dasgupta & Tapan Mitra: On price characterization of optimal plans in a multi-sector economy; Amitava Krishna Dutt: Growth, distributon and capital ownershp: Kalecki and Pasinetti revisited; Jayasri Dutta: The wage premium, public activity and surplus labour; Part IV: Industrial Organization: Gautam Bhattacharya: Innovation games in vertical markets; Bhaskar Dutta & Shubhashis Gangopadhay: Should governments always enourage entry?; Dilip Mookherjee: Rank order competition and incentives: an organizational perspective; Part V: International Economics: Sugata Marjit: Terms of trade, capital mobility and welfare; Alok Ray: The theory of devaluation for LDCs; Abhirup Sarkar: A Ricardian model of trade with demand constraints.