have important implications for macroeconomics in terms of theory and policy. It considers the differences in macroeconomic … laws of economics are universal, the functioning of economies can be markedly different. Therefore, economic theory and … policy analysis should recognize, rather than ignore, such myriad differences. …

Eurosystem. The study also goes into the major economic policy debates, as well as the specific lines of macroeconomic and …

This paper examines the optimal response of monetary and fiscal policy to a decline in aggregate demand. The … long run. Policy is evaluated by how well it raises the welfare of the representative household. While the model has … Keynesian features, its policy prescriptions differ significantly from textbook Keynesian analysis. Moreover, the model suggests …

is a short run effect, any policy shall aim to reduce hunger for the long run. This study shows that having chronic …