External Shocks in Classical and Keynesian Economies PDF Download
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Author: Klaus Schmidt-Hebbel
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 64
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Book Description
Author: Klaus Schmidt-Hebbel
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 64
Get Book Here
Book Description
Author: Klaus Schmidt-Hebbel
Publisher: World Bank Publications
ISBN:
Category : Balance of payments
Languages : en
Pages : 72
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Book Description
Transitory and permanent shocks may have opposite effects on the current account. In particular, an increase in foreign transfers or a terms- of- trade windfall, if permanent, can result in a current account deficit. But if temporary, they cause a surplus. Liquidity constraints and wage rigidities tend to amplify the cyclical adjustment to external shocks.
Author: Klaus Schmidt-Hebbel
Publisher:
ISBN:
Category : Economic stabilization
Languages : en
Pages : 0
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Book Description
Author: Klaus Schmidt-Hebbel
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
Author: Klaus Schmidt Hebbel
Publisher:
ISBN:
Category : Estabilizacion del mercado
Languages : en
Pages : 58
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Book Description
Author: Óscar Dejuán
Publisher: Routledge
ISBN: 1134052154
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
At the end of the 20th century, mainstream economics was based on theories which viewed capitalism as a self-regulating system, whereby crises come about due to external shocks and would be automatically corrected by the price mechanism if it was flexible enough. Post-Keynesian economists, however, consider that the business cycle and the crises are endogenously generated. They recommend active policies as a response, though the remedies may be worse than the illness if they are not applied at the right moment and in the right proportions. The first great recession of the 21st century offers post-Keynesian economists an opportunity to prove the realism of their models. It is also a chance to make theoretical improvements, to abandon some hypotheses and to introduce new ones. This book, from a top group of international economists, analyzes the causes, consequences and evolution of the crisis from a variety of post-Keynesian perspectives. It then presents a case for realistic and essential remedies. The book is both theoretical and applied, with a global reach and a particular focus on the European debt crisis.
Author: Peter Howitt
Publisher: University of Michigan Press
ISBN: 9780472102105
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
This volume brings together Howitt's key contributions to the development of macroeconomic theory
Author: John Maynard Keynes
Publisher: Springer
ISBN: 3319703447
Category : Business & Economics
Languages : en
Pages : 430
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Book Description
This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Author: Sidney Weintraub
Publisher: Pickle Partners Publishing
ISBN: 1789126045
Category : Business & Economics
Languages : en
Pages : 327
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Book Description
Since I wrote my small volume on A General Theory of the Price Level, etc., I have often been asked for a fuller statement of my views, or my attitude on various matters treated only briefly at that time....I hope that the collection of essays that are contained herein fill in many of these gaps and answer the major part of the queries that admit of such elaboration.” In my opinion there are two contending theories of the price level: that deriving from the Equation of Exchange in one or another of its forms, and that based on cost, especially wage, phenomena. Thus the debate must be resolved primarily between two major sets of ideas on the subject of inflation. In this light it would be a welcome event, if those Keynesians in economics, who long ago abandoned the various versions of the Quantity Theory of Money and have little truck with the cost theory of the price level, would at least re-examine their views on this subject. It is my deep conviction that most of the literature oriented toward what has been regarded as Keynesian thinking has had very little to contribute toward understanding price level phenomena despite superficial appearances toward the contrary. The importance of this assertion cannot be overstated for, in bulk, this literature is already voluminous and in teaching importance it represents the dominant modern fashion. Yet, in my opinion, on the fundamental problems of price level inflation and deflation, I believe it to be wholly barren and devoid of substance. Perhaps these essays will reveal the stark nakedness of the concepts in the price dimensions that interest all of us.—Sidney Weintraub
Author: Alessandro Vercelli
Publisher: Cambridge University Press
ISBN: 9780521392945
Category : Biography & Autobiography
Languages : en
Pages : 292
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Book Description
This book is an investigation of the methodological and epistemological foundations of macroeconomic theory, based on an examination of the theories of Keynes and Lucas. It is divided into two parts. In the first Professor Vercelli discusses the methodological issues which lie behind the conflict among different schools of thought in macroeconomics (equilibrium and disequilibrium, risk and uncertainty, rationality and causality). These issues are central to the current debate not only in many branches of economics, but also in other scientific disciplines. The traditional point of view of science based on equilibrium, stability and determinism has been increasingly challenged by a new point of view in which disequilibrium, instability and uncertainty play a crucial role. This, the author argues, is bound to put macroeconomics in a new, more promising position. In the second part of the book the author compares the two main alternative research programmes in macroeconomics: that outlined by Keynes in his 'General Theory', and that suggested by Lucas, the leader of the new classical economists.
