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Author : Klaus Schmidt-Hebbel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4./5 ( download)
Download or read book External Shocks in Classical and Keynesian Economies written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Klaus Schmidt-Hebbel
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (318 download)
Download or read book External Shocks in Classical and Keynesian Economies written by Klaus Schmidt-Hebbel and published by World Bank Publications. This book was released on 1994 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (143 download)
Download or read book Dynamic Response to External Shocks in Classical and Keynesian Economics written by Klaus Schmidt-Hebbel and published by . This book was released on 1994 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Steven Kates
Publisher : Edward Elgar Publishing
ISBN 13 : 1786433575
Total Pages : 264 pages
Book Rating : 4.7/5 (864 download)
Download or read book Classical Economic Theory and the Modern Economy written by Steven Kates and published by Edward Elgar Publishing. This book was released on 2020-06-26 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic theory reached its zenith of analytical power and depth of understanding in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains what took place in the ensuing Marginal Revolution and Keynesian Revolution that left economists less able to understand how economies operate. It explores the false mythology that has obscured the arguments of classical economists, providing a pathway into the theory they developed.
Author : Óscar Dejuán
Publisher : Routledge
ISBN 13 : 1134052154
Total Pages : 318 pages
Book Rating : 4.1/5 (34 download)
Download or read book Post-Keynesian Views of the Crisis and its Remedies written by Óscar Dejuán and published by Routledge. This book was released on 2013-08-21 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 13 : 9780472102105
Total Pages : 272 pages
Book Rating : 4.1/5 (21 download)
Download or read book The Keynesian Recovery and Other Essays written by Peter Howitt and published by University of Michigan Press. This book was released on 1990 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together Howitt's key contributions to the development of macroeconomic theory
Author : John Maynard Keynes
Publisher : Springer
ISBN 13 : 3319703447
Total Pages : 404 pages
Book Rating : 4.3/5 (197 download)
Download or read book The General Theory of Employment, Interest, and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : James Crotty
Publisher : Routledge
ISBN 13 : 0429877064
Total Pages : 398 pages
Book Rating : 4.4/5 (298 download)
Download or read book Keynes Against Capitalism written by James Crotty and published by Routledge. This book was released on 2019-04-29 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Keynes is one of the most important and influential economists who ever lived. It is almost universally believed that Keynes wrote his magnum opus, The General Theory of Employment, Interest and Money, to save capitalism from the socialist, communist, and fascist forces that were rising up during the Great Depression era. This book argues that this was not the case with respect to socialism. Tracing the evolution of Keynes’s views on policy from WWI until his death in 1946, Crotty argues that virtually all post-WWII "Keynesian" economists misinterpreted crucial parts of Keynes’s economic theory, misunderstood many of his policy views, and failed to realize that his overarching political objective was not to save British capitalism, but rather to replace it with Liberal Socialism. This book shows how Keynes’s Liberal Socialism began to take shape in his mind in the mid-1920s, evolved into a more concrete institutional form over the next decade or so, and was laid out in detail in his work on postwar economic planning at Britain’s Treasury during WWII. Finally, it explains how The General Theory provided the rigorous economic theoretical foundation needed to support his case against capitalism in support of Liberal Socialism. Offering an original and highly informative exposition of Keynes’s work, this book should be of great interest to teachers and students of economics. It should also appeal to a general audience interested in the role the most important economist of the 20th century played in developing the case against capitalism and in support of Liberal Socialism. Keynes Against Capitalism is especially relevant in the context of today’s global economic and political crises.
Author : Alessandro Vercelli
Publisher : Cambridge University Press
ISBN 13 : 9780521392945
Total Pages : 292 pages
Book Rating : 4.3/5 (929 download)
Download or read book Methodological Foundations of Macroeconomics written by Alessandro Vercelli and published by Cambridge University Press. This book was released on 1991-09-26 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Author : Athol Fitzgibbons
Publisher : Edward Elgar Publishing
ISBN 13 : 1843765330
Total Pages : 183 pages
Book Rating : 4.8/5 (437 download)
Download or read book The Nature of Macroeconomics written by Athol Fitzgibbons and published by Edward Elgar Publishing. This book was released on 2002-01-01 with total page 183 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nature of Macroeconomics is a short but adventurous book that punches well above its weight . . . As part of a growing literature that identifies methodological issues as central to any appreciation of macroeconomic debate, and which seeks to under-labor for a more relevant useful indeed, more scientific macroeconomics, Fitzgibbons book is to be warmly welcomed. Mark Setterfield, Review of Social Economy Fitzgibbons examines the foundations of macroeconomic theory and policy and develops an insightful discussion of important issues, especially the state of knowledge of both market participants and policymakers . . . The Nature of Macroeconomics is clearly a book that contributes to the growth of our own partial knowledge. David Dequech, Review of Political Economy Athol Fitzgibbons s book distils the main lesson of the debates on Keynes over the last 25 years: that macroeconomics has to be based on a theory of knowledge consistent with the way life is lived, where decisions are made in the face of imperfect knowledge. All existing theory (including, he argues, the General Theory) assumes either perfect knowledge or complete ignorance. He shows us why this has happened, and suggests a way out. It is a brave, knowledgeable and important book. Victoria Chick, University College London, UK A well-written, well-argued discussion of the foundations of macro. If you are unfamiliar with the arguments that macro is not, and cannot be, a traditional science, then this book is definitely worth reading. David Colander, Middlebury College, Vermont, US This book addresses the long absence of a satisfactory theory of macroeconomics. Keynesian theory is not consistent with rational self-interest, but neo-classical economics is unable to explain economic volatility and the trade cycle. Athol Fitzgibbons critiques the leading macroeconomic theories, which he believes are unduly mechanistic because they are incompatible with non-quantitative knowledge. The author sketches the intellectual history of partial knowledge and judgement so far as these relate to macroeconomics, and rejects the claims that Keynes recanted the analysis of practical reason in his Treatise on Probability. Fitzgibbons s theme is the possibility of a new synthesis of Keynes and the neoclassical system. This stresses financial rationality, but it also recognizes that there is an element of indeterminacy in both government policies and the movements of the market.
Author : Jan Gottschalk
Publisher : Springer Science & Business Media
ISBN 13 : 3540376798
Total Pages : 307 pages
Book Rating : 4.5/5 (43 download)
Download or read book Monetary Policy and the German Unemployment Problem in Macroeconomic Models written by Jan Gottschalk and published by Springer Science & Business Media. This book was released on 2007-04-29 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Having the high unemployment in Germany in mind, this book discusses how macroeconomic theory has evolved over the past forty years. It shows that in recent years a convergence has taken place, with modern models embodying a Keynesian transmission mechanism, monetarist policy implication, and modeling techniques inspired by new classical economics and real business cycle theory. It also probes in which direction models may be extended from here. Empirically, the book uses different econometric techniques to investigate the relevance and implications of different macroeconomic theories for German data. A key question this book investigates is the role of demand and supply side conditions for the increase in the German unemployment rate. On a policy level, the book relates the implications of the different theories to the ongoing debate on the appropriate roles of demand and supply side policies for curing the German unemployment problem.
Author : Heinrich Bortis
Publisher : Cambridge University Press
ISBN 13 : 0521570557
Total Pages : 467 pages
Book Rating : 4.5/5 (215 download)
Download or read book Institutions, Behaviour and Economic Theory written by Heinrich Bortis and published by Cambridge University Press. This book was released on 1997 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is about the conceptual foundations of an intermediate way between liberalism and socialism. From a standpoint of economic theory, this middle way is conceived of as a synthesis of classical (Ricardian) and Keynesian political economy. While the former deals with proportions between individuals or collectives and society in tackling the problems of distribution and value on the basis of the surplus principle, the latter is concerned with the scale of economic activity as explained by the principle of effective demand. Political economy pictures the economic aspects of the functioning of the institutional system within which the behaviour of individuals is embedded. The economy considered is, primarily, neither a market nor a planned economy, but, rather, a monetary production economy. To establish an alternative to liberalism and socialism requires setting up a system of the social sciences. In this work suggestions are made for linking political economy with other social sciences, i.e. sociology, law and politics in the traditional sense, thus establishing the unity of the social sciences. In a Keynesian vein, the social sciences are conceived of as moral sciences, a view which gives rise to a specific philosophy of history. To complete the picture, issues of method associated with the theory of knowledge in the social sciences and the problem of linking theory with historical reality are also covered.
Author : Philip Arestis
Publisher :
ISBN 13 :
Total Pages : 264 pages
Book Rating : 4.3/5 (121 download)
Download or read book Post Keynesian Economic Theory written by Philip Arestis and published by . This book was released on 1985 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This collection of major new essays offers a full range of alternative ways of looking at the economy. The alternatives adopted here focus on the post-Keynesian body of thought. The authors call into question the traditional ways of thinking on a number of economic issues... The essays offered here represent a serious challenge to the prevailing orthodoxies and demand new ways of thinking about economics."--p. [4] of cover.
Author : Philip Arestis
Publisher : Edward Elgar Publishing
ISBN 13 : 9781852781545
Total Pages : 340 pages
Book Rating : 4.7/5 (815 download)
Download or read book The Post-Keynesian Approach to Economics written by Philip Arestis and published by Edward Elgar Publishing. This book was released on 1992 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This major new book provides a coherent critique of the neo-classical synthesis together with a comprehensive and systematic introduction to the post Keynesian alternatives. Professor Arestis demonstrates that post Keynesian economics offers a challenge to conventional neoclassical economics. He argues that although post Keynesianism is not problem-free, it nevertheless offers a more satisfactory explanation of 'real' phenomena. The post Keynesian Approach to Economicsreveals the microfoundations of post Keynesian economics and describes how these theoretical propositions link up with the macrofoundations. In doing so, it demonstrates that money pricing, capital accumulation, growth and distribution are linked very closely together. The economic policy implications are discussed extensively.
Author : Sidney Weintraub
Publisher : Philadelphia, Chilton
ISBN 13 :
Total Pages : 208 pages
Book Rating : 4.:/5 (41 download)
Download or read book Classical Keynesianism written by Sidney Weintraub and published by Philadelphia, Chilton. This book was released on 1961 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : James C.W. Ahiakpor
Publisher : Routledge
ISBN 13 : 0203413520
Total Pages : 273 pages
Book Rating : 4.2/5 (34 download)
Download or read book Classical Macroeconomics written by James C.W. Ahiakpor and published by Routledge. This book was released on 2003-05-22 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Böhm-Bawerk, have made it difficult for modern economists to fully appreciate the classical insights. This outstanding book clarifies the classical explanations to resolve the continuing theoretical and policy disputes. Key chapters include: On the Definition of Money Keynes's Misinterpretation of the Classical Theory of Interest The Classical Theory of Growth and Keynes's Paradox of Thrift The Mythology of the Keynesian Multiplier This unique book demonstrates that it is Keynes's understanding of some fundamental classical economic concepts which is at fault, and extends its analysis to other modern contributions in macroeconomics.
Author : Gordon A. Fletcher
Publisher :
ISBN 13 :
Total Pages : 384 pages
Book Rating : 4.F/5 ( download)
Download or read book The Keynesian Revolution and Its Critics written by Gordon A. Fletcher and published by . This book was released on 1989 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the pioneering economic work by John Maynard Keynes, "The General Theory of Employment, Interest and Money", and attempts to explain, with constant reference to the original sources, the complexity of Keynes' theories and the critical response they evoked.
