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 | | The Dynamics of Keynesian Monetary Growth: Macro Foundations by Carl Chiarella, Peter Flaschel ISBN-10: 9780521643511 ISBN-10: 0-521-64351-1 ISBN-13: 9780521643511 ISBN-13: 978-0-521-64351-1 Hardcover 2000-08-07 Cambridge University Press Find Lowest Price |
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Product Description This book is in the tradition of non-market-clearing approaches to macrodynamic economics. It shows for the first time that macrodynamics can be developed and investigated in a systematic fashion, leading to coherent models of fluctuation growth. This differs considerably from the microfounded full equilibrium approaches that are currently fashionable. Using sophisticated mathematical tools, it investigates complex macrodynamic feedback mechanisms in a systematic way, showing how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. | ||
Book Description This book is in the tradition of non-market-clearing approaches to macrodynamic economics. It shows for the first time that macrodynamics can be developed and investigated in a systematic fashion, leading to coherent models of fluctuation growth. This differs considerably from the microfounded full equilibrium approaches which are currently fashionable. Using sophisticated mathematical tools, it investigates complex macrodynamic feedback mechanisms in a systematic way, showing how macrodynamics can be developed in a hierarchical way from economically simple structures to more advanced ones. | ||
Download Description 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. The book is organised into seven chapters. Chapter 1 discusses traditional macrodynamic model buidling. Chapters 2-4 show how Keynesian disequilibrium growth can be obtained from Tobin and Keynes-Wicksell monetary growth models. Chapter 5 treats the cases of substitution in production, and Chapter 6 provides the working model of the book. Chapter 7 discusses further extensions and gives an outlook on future work. | ||