Macroeconomics: An Introduction to the Non-Walrasian Approach PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Macroeconomics: An Introduction to the Non-Walrasian Approach PDF full book. Access full book title Macroeconomics: An Introduction to the Non-Walrasian Approach by Jean-Pascal Benassy. Download full books in PDF and EPUB format.
Author: Jean-Pascal Benassy
Publisher: Academic Press
ISBN: 1483268462
Category : Business & Economics
Languages : en
Pages : 265
Get Book Here
Book Description
Macroeconomics: An Introduction to the Non-Walrasian Approach provides the approach to macroeconomic theory based on the non-Walrasian method. This book presents the microeconomic concepts that can be applied in a simple and relevant manner to the fundamental topics of macroeconomic theory. Organized into five parts encompassing 14 chapters, this book begins with an overview of the fundamental concepts, describing the functioning of nonclearing markets, the role of expectations, the setting of prices by decentralized agents, and the derivation of optimal demand and supplies. This text then studies various non-Walrasian equilibrium concepts. Other chapters compare the classical and Keynesian theories of unemployment in the framework of a model. This book discusses as well the asymmetric price flexibility into the basic model. The final chapter deals with a dynamic model with explicit expectations, which allows a comparison of the employment effects of various expectations schemes and their realism. This book is a valuable resource for economists.
Author: Jean-Pascal Benassy
Publisher: Academic Press
ISBN: 1483268462
Category : Business & Economics
Languages : en
Pages : 265
Get Book Here
Book Description
Macroeconomics: An Introduction to the Non-Walrasian Approach provides the approach to macroeconomic theory based on the non-Walrasian method. This book presents the microeconomic concepts that can be applied in a simple and relevant manner to the fundamental topics of macroeconomic theory. Organized into five parts encompassing 14 chapters, this book begins with an overview of the fundamental concepts, describing the functioning of nonclearing markets, the role of expectations, the setting of prices by decentralized agents, and the derivation of optimal demand and supplies. This text then studies various non-Walrasian equilibrium concepts. Other chapters compare the classical and Keynesian theories of unemployment in the framework of a model. This book discusses as well the asymmetric price flexibility into the basic model. The final chapter deals with a dynamic model with explicit expectations, which allows a comparison of the employment effects of various expectations schemes and their realism. This book is a valuable resource for economists.
Author: Jean-Pascal Benassy
Publisher: Academic Press
ISBN: 1483259927
Category : Political Science
Languages : en
Pages : 265
Get Book Here
Book Description
"Macroeconomics" builds a number of macroeconomic models applying the non-Walrasian methodology. The literature on the subject has grown so rapidly in recent years that it would be unreasonable to try to give an exhaustive account of all existing models in the field. We have thus chosen to present here some models that cover as large a number of questions as possible within a simple and unified framework. We also want to bridge the gap with traditional macroeconomics while extending the analysis on various points, which be investigated by purposely making each time the simplest possible assumptions about the formation of the various prices (or, when needed, expectations) involved. This will allow us to demonstrate in a straightforward manner the synthetic qualities of the theory, both by making a natural synthesis with traditional macroeconomics, where similar simple assumptions are made, and by treating a large number of topics while using throughout a very unified macroframework.
Author: Anjan Mukherji
Publisher: Oxford University Press, USA
ISBN:
Category : Business & Economics
Languages : en
Pages : 264
Get Book Here
Book Description
Author: Jean-Pascal Bénassy
Publisher:
ISBN: 9780120864263
Category : Business & Economics
Languages : en
Pages : 250
Get Book Here
Book Description
The basic concepts; Non-Walrasian equilibria; Theories of unemployment; Asymmetric price flexibility and the effectiveness of employment policies; Indexation and employment policies; The three regimes of the IS-LM model; Economic policies in an open economy; The balance of payments; Theories of inflation; Phillips curves, conflicts, and expectations; A model of the business cycle; The role of expectations; Non-Walrasian prices and perfect foresight; Expectations, information, and dynamics.
Author: Michel De Vroey
Publisher: Cambridge University Press
ISBN: 0521898439
Category : Business & Economics
Languages : en
Pages : 451
Get Book Here
Book Description
This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Author: David Colander
Publisher: Cambridge University Press
ISBN: 1139459058
Category : Business & Economics
Languages : en
Pages : 33
Get Book Here
Book Description
Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.
Author: G. C. Harcourt
Publisher: Routledge
ISBN: 1134824157
Category : Business & Economics
Languages : en
Pages : 340
Get Book Here
Book Description
This second volume contains essays which relate to developments in Keynes' scholarship and theorizing in the years since his death and demonstrates the ongoing validity of the Keynesian tradition.
Author: R. Werner
Publisher: Springer
ISBN: 0230506070
Category : Business & Economics
Languages : en
Pages : 434
Get Book Here
Book Description
Modern mainstream economics is attracting an increasing number of critics of its high degree of abstraction and lack of relevance to economic reality. Economists are calling for a better reflection of the reality of imperfect information, the role of banks and credit markets, the mechanisms of economic growth, the role of institutions and the possibility that markets may not clear. While it is one thing to find flaws in current mainstream economics, it is another to offer an alternative paradigm which, can explain as much as the old, but can also account for the many 'anomalies'. That is what this book attempts. Since one of the biggest empirical challenges to the 'old' paradigm has been raised by the second largest economy in the world - Japan - this book puts the proposed 'new paradigm' to the severe test of the Japanese macroeconomic reality.
Author: Roger E. Backhouse
Publisher: Cambridge University Press
ISBN: 110702319X
Category : Business & Economics
Languages : en
Pages : 239
Get Book Here
Book Description
Since the 1950s, macroeconomics has been transformed. This book is about one of the most important aspects of that transformation: the attempt, through the end of the twenty-first century and beyond, to construct macroeconomic models rigorously derived from models of individual firms and households.
Author: Piero Ferri
Publisher: Springer Science & Business Media
ISBN: 3662008319
Category : Political Science
Languages : en
Pages : 197
Get Book Here
Book Description
Interest in business cycles has had its 'ups and downs'. After a period of almost steady state growth and of economic tranquility, when the business cycle seemed to be obsolete, the turbulence of the 70s and 80s has contributedto a renewed interest in the topic. Important analytical and methodological innovations have also favored the present abundance of contributions. Four innovations are of particular importance: i. microfoundations ii. nonlinearities iii. stochastic variables iv. real aspects. Both Classical macroeconomics and new-Keynesian approaches seem to share these characteristics, which apply both to endogenous and exogenous explanations of the cycle. The distance separating the newer literature from its forebears seems vast. Previously, cycle theory was characterized by a macro approach and utilized nonlinearities either through piecewise 'linear models or with the aid of Classical theorems in the field of dynamic systems. To consider and to compare the old and the new literature on business cycles is one of the goals of this book. To narrow the distance separating them is another goal of this research. We do not try to bridge it, but rather to revisit the former tradition with new tools. Finally, a particular emphasis is put on the 'ceilings and floors' type of literature. One of us has written a D. Phil. thesis with Sir John Hicks, and both have worked with H. P. Minsky. Hicks, along with Goodwin, introdu. ced the concept of ceilings and floors into business cycle analysis, and Minsky made important contributions to the area.
