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Political Economics and Macroeconomic Policy

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  • Persson, T.
  • Tabellini, G.

Abstract

Traditional macroeconomic policy analysis asks the positive question of how the economy responds to alternative, but exogenous, policy actions or rules. Knowing these responses, the analyst can go to the normative problem of policy advice, The best action or rule is selected, given a specific obkective function. But as macroeconomists, we should also be able to shed light on a more ambitious set of questions. Why is it that we observe such different inflation rates across countries and time?, etc.

Suggested Citation

  • Persson, T. & Tabellini, G., 1997. "Political Economics and Macroeconomic Policy," Papers 630, Stockholm - International Economic Studies.
    • Handle: RePEc:fth:stocin:630
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    More about this item

    Keywords

    MACROECONOMICS ; GOVERNMENT POLICY ; POLITICS;
    All these keywords.

    JEL classification:

    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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