Background
Buiter, Willem Hendrik was born on September 26, 1949 in The Hague, The Netherlands. Came to the United States, 1971. Son of Harm Geert and Hendrien (Van Schooten) Buiter.
( This title, first published in 1979, presents the Ph.D....)
This title, first published in 1979, presents the Ph.D. thesis of the world-renowned economist and financial expert, Willem Buiter. In Part I, three alternative specifications of temporary equilibria in asset markets, including their implications for macroeconomic models, are discussed; Part II examines the long-term implications of some short-term macroeconomic models. The analysis of the theoretical foundations of ‘direct crowding out’ and ‘indirect crowding out’ is particularly prominent, with the result that a synthesis of short-term macroeconomic analysis and long-term growth theory is formulated. The traditional tools of comparative dynamics and stability analysis are employed frequently. However, it is also argued that the true scope of government policy can only be adequately evaluated with the aid of concepts such as dynamic and static controllability. Temporary Equilibrium and Long-Run Equilibrium is a valuable study, and relevant for all serious students of modern economic theory.
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( What principles should govern the design of governmenta...)
What principles should govern the design of governmental. budgetary and financial policy? Policymakers in the major industrial countries and officials of international organizations are deeply concerned about rising public debt burdens. But there are others who believe that only public spending on goods and services matters, while public debt and deficits are irrelevant. Principles of Budgetary and Financial Policy seeks to bridge the gap between these views, showing how rigorous economic theory can be applied to the study of fiscal, financial, and monetary policy and examining the contributions of such policy to the goals of cyclical stabilization, structural adjustment, and secular growth in modern "mixed" economies.This book brings together twelve years of Willem Buiter's work on fiscal and financial policy, including both previously published and new essays. In addition to raising the level of policy debate, it unites the two subdisciplines into which economists have split the study of fiscal and financial policy: the microeconomic theory of neoclassical public finance and the macroeconomic neoKeynesian theory of stabilization policy.The book's introductory section sets the scene through broad ranging, nontechnical papers emphasizing the unavoidable interconnection of the stabilization role of fiscal policy with its allocational and distributional roles. In the following sections Buiter focuses on the measurement of public sector activity over time, considering how (and to what extent) a longer-run perspective on the government's finances can be summarized in a single comprehensive government balance sheet. He examines "crowding out," the displacement of private economic activity by public economic activity, explaining why and how public debt and deficits matter and emphasizing the distinction between various financing issues. The fiscal origins of inflation are addressed, as well as the eventual monetization of public sector deficits. In an extensive concluding essay Buiter considers the role of fiscal policy in stabilization and structural adjustment in open developing countries.
http://www.amazon.com/gp/product/0262524139/?tag=2022091-20
(Why was the European Monetary System in 1992-93 swept by ...)
Why was the European Monetary System in 1992-93 swept by waves of disruptive speculative attacks? And what lessons emerged from that episode as regards the future of the European Monetary Union? This book provides a comprehensive assessment of the causes and implications of the 1992-93 crisis of the exchange rate mechanism. Cogent factual presentation, original theoretical analysis, and an interpretation rooted in theory, make this treatment by three leading economists essential reading to understand the process toward economic and political integration in Europe.
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Buiter, Willem Hendrik was born on September 26, 1949 in The Hague, The Netherlands. Came to the United States, 1971. Son of Harm Geert and Hendrien (Van Schooten) Buiter.
Bachelor of Arts University of Cambridge, Cambridge, United Kingdom, 1971. Doctor of Philosophy Yale University, 1975.
Assistant professor economics Princeton University, New Jersey, 1975-1979. Professor Bristol University, England, 1980-1982. Cassel professor London School Economics & Political Science, 1982-1984.
Professor Yale University, New Haven, 1985—1990, Juan D. Trippe professor international economics, 1990-1994. Professor international macroeconomics University Cambridge, 1994—2000. Chief economist, special counsellor to president European Bank for Reconstruction & Development, 2000—2005.
Professor European political economy, European Institute London School of Economics & Political Science, 2005—2009, professor political economy Centre for Economic Performance, 2009. Chief economist Citigroup Inc., London, since 2010. Associate National Bureau Economic Research, since 1979.
Consultant International Monetary Fund, Washington, 1979, 82, 85, 91-92, World Bank, Washington, 1986-1991. Consultant Inter-American Development Bank, Washington, since 1991, EBRD, London, since 1994. Adviser House of Commons Treasury Committee, London, 1980-1984, European Economic Community, Brussels, Belgium, 1982-1984, Ministry Education and Science, The Hague, 1986, Ministry Coordinator and Planning, Venezuela, 1992, member Monetary Policy Committee, Bank of England, 1997-2000.
(Why was the European Monetary System in 1992-93 swept by ...)
(This monograph addresses a number of practical current po...)
( What principles should govern the design of governmenta...)
( This title, first published in 1979, presents the Ph.D....)
(Macroeconomics -- Mathematical models.)
Author: Temporary and Long-run Equilibrium, 1975, Budgetary Policy International and Intertemporal Trade in the Global Economy, 1989, Macroeconomic Theory and Stabilization Policy, 1989, Principles of Budgetary and Financial Policy, 1990, International Macroeconmics, 1990, Financial Markets and International Monetary Cooperation, 1996. Contributor articles to professional journals.
The common thread in most of my work concerns monetary and fiscal policy evaluation and design. Increasingly, an open economy or multi-country framework approach has been adopted. One set of papers aimed to save the rational expectations revolution from the new classical macroeconomics.
A continuing concern is the development of dynamic models with tolerable microfoundations, that have sufficient plausible market imperfections (especially in financial markets) for a non-trivial potential role for monetary, fiscal and financial policy to emerge. Given policy ‘effectiveness’, the search for credible or time-consistent policies is the next item on the agenda. As part of this research programme, I am trying to integrate the allocative and stabilisation aspects of budgetary and monetary policy.
I have cautious hopes for the applicability of simple nonco-operative dynamic game theory to the problem of decentralised policy design in open, interdependent economies.
Fellow Centre for Economic Policy Research. Member Royal Economics Society, American Economics Association, Royal Netherlands Academy of Sciences (correspondent), Council of the Royal Economic Society (member panel of independent advisors, economic and monetary committee parliamentary group of Party of European Socialists since 1996), International Institute Public Fins.
Married Anne C. Sibert: children: David Michael Alejandro, Elizabeth Lorca.