Studies in Medium-Run Macroeconomics: Growth, Fluctuations, Unemployment, Inequality and Policies by Hideyuki Adachi

Studies in Medium-Run Macroeconomics: Growth, Fluctuations, Unemployment, Inequality and Policies

byHideyuki Adachi, Tamotsu Nakamura, Yasuyuki Osumi

Kobo ebook | March 26, 2015

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This unique volume consists of studies on medium-run macroeconomics that deal with aggregate economic issues that do not easily fit into either short-run business cycles or long-term growth. This research area has emerged over last decade as a new and distinct field, and needs further explorations.

The book includes theoretical as well as empirical studies that cover topics related to medium-run phenomena, such as ‘growth and fluctuations’, ‘wages and unemployment’, ‘financial instabilities’, ‘ firm size distributions and unbalanced growth’, ‘income inequality’, etc.. Every chapter includes new approach or new findings and will be invaluable to developments in this emerging area of research.


  • Dynamic Macroeconomics of the Medium Run:

    • Growth and Fluctuations in Demand-Constrained Economies: A Medium-Run Macrodynamic Analysis (Hideyuki Adachi and Tamotsu Nakamura)
    • Wages and Unemployment in the Medium Run (Hideyuki Adachi and Yasuyuki Osumi)
    • Economic Growth and Unemployment: Theoretical Foundations of Okun's Law (Hideyuki Adachi, Shin Imoto and Kazuyuki Inagaki)
    • An Open Economy Model of Growth and Unemployment in the Medium Run (Hideyuki Adachi, Shin Imoto and Kenji Yamashita)
  • Dynamic Macroeconomics of Financial Instability:

    • A Macrodynamic Analysis of Financial Instability (Hideyuki Adachi and Atsushi Miyake)
    • A Dynamic Analysis of an Economy with a Zero Interest Rate Bound (Hideyuki Adachi and Tamotsu Nakamura)
  • Structural Change and Economic Growth:

    • Aggregate Elasticity of Substitution and Structural Change (Yasuyuki Osumi)
    • The Evolution of the Firm Size Distribution and Economic Growth (Hideyuki Adachi, Taiji Hagiwara and Yasutaka Tsunehiro)
  • Labor Market and Income Inequality:

    • Endogenous Skill Assignment, Productivity and Wage Inequalities (Takeshi Nakatani and Yasuyuki Osumi)
    • Increases in Income Inequality and Non-Regular Employment: A Simple General Equilibrium Model (Keiya Minamimura, Tamotsu Nakamura and Minoru Watanabe)
    • Increases in Non-Regular Employment and Asymmetric Labor Adjustments (Toyoki Matsue and Tamotsu Nakamura)
  • Public Sector and Private Economy:

    • The Role of Complementarity between Government Spending and Labor in Government Spending Multiplier: Evidence from Japan (Masataka Eguchi and Takao Fujii)
    • The Intertemporal and Simultaneous Substitution Effects of a Consumption Tax Rate Increase: Evidence from Japan (Takeshi Koba and Haruhiko Shimizu)

Readership: Graduate students and researchers who are interested in understanding medium-run macroeconomics.
Key Features:

  • One of the few books on medium-run macroeconomics
  • Analyzes the roles of imperfections in macroeconomics instead of assuming perfect competition or rational expectations as the recent mainstream macro theory does
  • Articles present a variety of approaches to medium-run economic issues
Title:Studies in Medium-Run Macroeconomics: Growth, Fluctuations, Unemployment, Inequality and PoliciesFormat:Kobo ebookPublished:March 26, 2015Publisher:World Scientific Publishing CompanyLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:9814619590

ISBN - 13:9789814619592

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