Macroeconomic Policies of Developed Democracies

Macroeconomic Policies of Developed Democracies

This book synthesizes and extends modern political-economic theory to explain the postwar evolution of macroeconomic policy in developed democracies. The chapters study transfers, debt, and monetary/wage policy-making and outcomes, stressing that participation enhances transfer policy responsiveness to inequality and vice versa, that policy-making veto actors retard fiscal policy adjustments, inducing greater long run debt-responses to all other political-economic stimuli, and that monetary policy's nominal and real effects depend, respectively, on the broader political-economic interest structure and on wage price bargainers' sectorial composition and coordination.


"[A] masterly treatment of post-war economic management in advanced industrial democracies." Journal of Politics

"Robert J. Franzese, Jr. has written an excellent book tha is part of the informative Cambridge Studies in Comparative Politics series...Franzese's book needs to be read by political economists, as it will make a significant contribution to the field." Perspectives on Politics

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