Skip to content
Register Sign in Wishlist

The Theory of Economic Policy in a Strategic Context


  • Date Published: August 2018
  • availability: Available
  • format: Paperback
  • isbn: 9781108468824

£ 27.99

Add to cart Add to wishlist

Other available formats:
Hardback, eBook

Looking for an inspection copy?

This title is not currently available on inspection

Product filter button
About the Authors
  • In developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games, and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence, uniqueness, and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy questions.

    • A new theory of economic policy which reincorporates elements of the Tinbergen theory of economic policy into more modern approaches
    • Provides a formal mathematical game-theoretic treatment of the subject
    • The mathematically rigorous presentation of the theory is complemented with practical examples
    Read more

    Customer reviews

    Not yet reviewed

    Be the first to review

    Review was not posted due to profanity


    , create a review

    (If you're not , sign out)

    Please enter the right captcha value
    Please enter a star rating.
    Your review must be a minimum of 12 words.

    How do you rate this item?


    Product details

    • Date Published: August 2018
    • format: Paperback
    • isbn: 9781108468824
    • length: 448 pages
    • dimensions: 278 x 215 x 18 mm
    • weight: 0.9kg
    • contains: 16 b/w illus. 4 tables
    • availability: Available
  • Table of Contents

    List of figures
    List of tables
    Common symbols
    1. An overview: the realm of economic policy
    Part I. The Classical Theory of Economic Policy:
    2. Statics
    3. Dynamics
    Part II. From the Classical to the New Theory of Economic Policy:
    4. The Lucas critique
    5. Policy games: an introduction
    Part III. The New Theory of Economic Policy: Statics:
    6. A theory of strategic conflict: foundations
    7. From individual players to system controllability
    8. Conflicts and coordination among groups
    9. Announcements as a coordination mechanism
    Part IV. The New Theory of Economic Policy: Dynamics:
    10. Controllability in a strategic dynamic setting
    11. Dynamic policy games with rational expectations
    12. Credibility, dynamic controllability and rational expectations
    13. Expectations and target coordination: institutional aspects
    14. A summary and round-up of conclusions

  • Authors

    Nicola Acocella, Università degli Studi di Roma 'La Sapienza', Italy
    Nicola Acocella is Professor of Economic Policy at Università degli Studi di Roma 'La Sapienza', Italy.

    Giovanni Di Bartolomeo, Università degli Studi di Teramo, Italy
    Giovanni Di Boartolomeo is Associate Professor of Economics at Università degli Studi di Teramo, Italy, where he is also Director of the postgraduate course in Management and Business Communication.

    Andrew Hughes Hallett, George Mason University, Virginia
    Andrew Hughes Hallett is Professor of Economics and Public Policy at George Mason University, Virginia and Professor of Economics at the University of St Andrews. He is a Fellow of the Royal Society of Edinburgh.

Sign In

Please sign in to access your account


Not already registered? Create an account now. ×

Sorry, this resource is locked

Please register or sign in to request access. If you are having problems accessing these resources please email

Register Sign in
Please note that this file is password protected. You will be asked to input your password on the next screen.

» Proceed

You are now leaving the Cambridge University Press website. Your eBook purchase and download will be completed by our partner Please see the permission section of the catalogue page for details of the print & copy limits on our eBooks.

Continue ×

Continue ×

Continue ×

Find content that relates to you

Join us online

This site uses cookies to improve your experience. Read more Close

Are you sure you want to delete your account?

This cannot be undone.


Thank you for your feedback which will help us improve our service.

If you requested a response, we will make sure to get back to you shortly.

Please fill in the required fields in your feedback submission.