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Author: Carl Chiarella
Publisher: Cambridge University Press
ISBN: 9780521643511
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
This text shows for the first time that macrodynamics can be developed and investigated systematically.
Author: Carl Chiarella
Publisher: Cambridge University Press
ISBN: 9780521643511
Category : Business & Economics
Languages : en
Pages : 318
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Book Description
This text shows for the first time that macrodynamics can be developed and investigated systematically.
Author: Carl Chiarella
Publisher: Cambridge University Press
ISBN: 9781139427869
Category : Business & Economics
Languages : en
Pages : 444
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Book Description
Originally published in 2000, this book is in the tradition of non-market-clearing approaches to macrodynamic approaches. It builds a series of integrated disequilibrium growth models of increasing complexity, which display the economic interaction between households, firms and government across labour, goods, money, bonds and equities markets. Chiarella and Flaschel demonstrate how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. In addition it investigates complex macrodynamic feedback mechanisms.
Author: Peter Flaschel
Publisher: MIT Press
ISBN: 9780262061919
Category : Business & Economics
Languages : en
Pages : 484
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Book Description
An attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using tools from dynamic analysis, the text introduces a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing equilibrium dynamics.
Author: International Monetary Fund. External Relations Dept.
Publisher: International Monetary Fund
ISBN: 1475566980
Category : Business & Economics
Languages : en
Pages : 60
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Book Description
This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Author: Carl Chiarella
Publisher: Edward Elgar Publishing
ISBN: 1789908000
Category : Business & Economics
Languages : en
Pages : 451
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Book Description
As a whole this book adds the ‘Keynes’-component (K) to the Goodwinian vision of a ‘MKS-System’. It first provides a reconsideration of prominent past approaches towards the formation of Keynesian macrodynamics. Ultimately it aims to integrate Marx's Distributive Cycle and aspects of Schumpeter's reformulation of socialism and democracy theory, with Keynes' macro-theory of a ‘Tripartite Market Hierarchy’. This regards financial markets as being at the top, followed by goods markets which in turn are followed by the weakest element, the labor markets. It is completed by certain repercussions that influence the central causal nexus of these three fundamental macro-markets in the longer-run.
Author: John Maynard Keynes
Publisher: Atlantic Publishers & Dist
ISBN: 9788126905911
Category : Business & Economics
Languages : en
Pages : 410
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Book Description
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Author: Jordi Galí
Publisher: Princeton University Press
ISBN: 1400866278
Category : Business & Economics
Languages : en
Pages : 295
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Book Description
The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
Author: Stephanie Kremer
Publisher:
ISBN: 9783941240032
Category :
Languages : en
Pages : 36
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Book Description
Author: M. Lavoie
Publisher: Springer
ISBN: 0230626300
Category : Business & Economics
Languages : en
Pages : 165
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Book Description
This book shows how the realistic foundations and stylized facts of Post-Keynesian economics give rise to macroeconomic implications that are different from those of received wisdom with regards to employment, output growth, inflation and monetary theory, and offers an alternative to neoclassical economics and its free-market economic policies.
Author: Bill Dunn
Publisher: Manchester University Press
ISBN: 1526154919
Category : Political Science
Languages : en
Pages : 435
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Book Description
Keynes was an elitist and pro-capitalist economist, whom the left should embrace with caution. But his analysis provides a concreteness missing from Marx and engages with critical issues of the modern world that Marx could not have foreseen. This book argues that a critical Marxist engagement can simultaneously increase the power of Keynes’s insight and enrich Marxism. To understand Keynes, whose work is liberally invoked but seldom read, Dunn explores him in the context of the extraordinary times in which he lived, his philosophy, and his politics. By offering a detailed overview of Keynes’s critique of mainstream economics and General Theory, Dunn argues that Keynes provides an enduringly valuable critique of orthodoxy. The book develops a Marxist appropriation of Keynes’s insights, arguing that a Marxist analysis of unemployment, capital and the role of the state can be enriched through such a critical engagement. The point is to change the world, not just to understand it. Thus the book considers the prospects of returning to Keynes, critically reviewing the practices that have come to be known as ‘Keynesianism’ and the limits of the theoretical traditions that have made claim to his legacy.
