This volume focuses on the macroeconomic consequences of microeconomic rigidity in the markets for goods or services, and the reforms necessary to create economic dynamism. It looks at how market structure, competition policy, over-regulation and collusive behaviour can influence macroeconomic performance. The Netherlands, Germany, New Zealand and Australia are used as examples to show how economic policies designed to provide greater flexibility can be analyzed. As well as practical policy matters, the authors deal with theoretical issues of how to determine price rigidities and their...
This volume focuses on the macroeconomic consequences of microeconomic rigidity in the markets for goods or services, and the reforms necessary to cre...
On the Brink of Deglobalization addresses the breakdown of international trade and capital flows in 2008/09 and challenges the mainstream narrative for the world trade collapse. Detailed chapters on international finance, fragmentation of production, protectionism and earlier episodes of collapsing trade reveal data that contradicts conventional explanations and demonstrates that the trade collapse was driven by the shock of (perceived) trade uncertainty. Peter van Bergeijk discusses why trade barriers and import substitution are seen as solutions during depressions while presenting empirical...
On the Brink of Deglobalization addresses the breakdown of international trade and capital flows in 2008/09 and challenges the mainstream narrative fo...
