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 questions.

A new unified theory of economic policy which responds to conflicts between strategic public and private policymakers.

About the Author
Nicola Acocella is Professor of Economic Policy at Universita degli Studi di Roma 'La Sapienza', Italy. Giovanni Di Boartolomeo is Associate Professor of Economics at Universita degli Studi di Teramo, Italy, 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, Virginia and Professor of Economics at the University of St Andrews. He is a Fellow of the Royal Society of Edinburgh.


Book Information
ISBN 9781107023864
Author Nicola Acocella
Format Hardback
Page Count 363
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 630g
Dimensions(mm) 235mm * 155mm * 22mm