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Author : N. Gregory Mankiw
Publisher :
ISBN 13 : 9780262631341
Total Pages : 468 pages
Book Rating : 4.6/5 (313 download)
Download or read book New Keynesian Economics written by N. Gregory Mankiw and published by . This book was released on 1991 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: New keynesian economics/ed. by N. Gregory Mankiw.-v.1
Author : N. Gregory Mankiw
Publisher : MIT Press
ISBN 13 : 9780262631341
Total Pages : 468 pages
Book Rating : 4.6/5 (313 download)
Download or read book New Keynesian Economics: Coordination failures and real rigidities written by N. Gregory Mankiw and published by MIT Press. This book was released on 1991 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: New keynesian economics/ed. by N. Gregory Mankiw.-v.1
Author : N. Gregory Mankiw
Publisher : MIT Press
ISBN 13 : 9780262631334
Total Pages : 448 pages
Book Rating : 4.6/5 (313 download)
Download or read book Imperfect Competition and Sticky Prices written by N. Gregory Mankiw and published by MIT Press. This book was released on 1991 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: These two volumes bring together a set of important essays that represent a "new Keynesian" perspective in economics today. This recent work shows how the Keynesian approach to economic fluctuations can be supported by rigorous microeconomic models of economic behavior. The essays are grouped in seven parts that cover costly price adjustment, staggering of wages and prices, imperfect competition, coordination failures, and the markets for labor, credit, and goods. An overall introduction, brief introductions to each of the parts, and a bibliography of additional papers in the field round out this valuable collection.Volume 1 focuses on how friction in price setting at the microeconomic level leads to nominal rigidity at the macroeconomic level, and on the macroeconomic consequences of imperfect competition, including aggregate demand externalities and multipliers. Volume 2 addresses recent research on non-Walrasian features of the labor, credit, and goods markets. Contributors George A Akerlof, Costas Azariadis, Laurence Ball, Ben S. Bernanke, Mark Bits, Olivier J. Blanchard, Alan S. Blinder, John Bryant, Andrew S. Caplin, Dennis W. Carlton, Stephen G. Cecchetti, Russell Cooper, Peter A. Diamond, Gary Fethke, Stanley Fischer, Robert E. Hall, Oliver Hart, Andrew John, Nobuhiro Kiyotaki, Alan B. Krueger, David M. Lilien, Ian M. McDonald, N. David Mankiw, Arthur M. Okun, Andres Policano, David Romer, Julio J. Rotemberg, Garth Saloner, Carl Shapiro, Andrei Shleifer, Robert M. Solow, Daniel F. Spulber, Joseph E. Stiglitz, Lawrence H. Summers, John Taylor, Andrew Weiss, Michael Woodford, Janet L. Yellen
Author : Marcello Messori
Publisher : Edward Elgar Publishing
ISBN 13 : 9781781959985
Total Pages : 264 pages
Book Rating : 4.9/5 (599 download)
Download or read book Financial Constraints and Market Failures written by Marcello Messori and published by Edward Elgar Publishing. This book was released on 1999-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Italian study group made up of seven economists report their findings on how the new Keynesian economics has reacted to challenges from new classical economics by strengthening the analytical power of its models. First they discuss the theoretical unde
Author : Roy Jeffrey Rotheim
Publisher : Psychology Press
ISBN 13 : 0415123887
Total Pages : 410 pages
Book Rating : 4.4/5 (151 download)
Download or read book New Keynesian Economics/post Keynesian Alternatives written by Roy Jeffrey Rotheim and published by Psychology Press. This book was released on 1998 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: New Keynesian Economics has been the most significant development in economics in recent years. However, many modern thinkers have asked whether it actually builds upon or merely distorts Keynes' work. This unique volume provides the first full-scale critique of the New Keynesian school of thought. Within its pages, Post-Keynesian economists, including many from the United States, challenge New Keynesianism both on the grounds that it is not Keynesian, and does not provide an adequate account of our current economic problems. Sure to provoke much new debate and even controversy, New Keynesian Economicsseeks to reconcile these two seemingly intractable systems.
Author : Corrado Benassi
Publisher : Wiley-Blackwell
ISBN 13 : 9780631184850
Total Pages : 476 pages
Book Rating : 4.1/5 (848 download)
Download or read book The New Keynesian Macroeconomics written by Corrado Benassi and published by Wiley-Blackwell. This book was released on 1994-12-07 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text offers a comprehensive presentation of the new Keynesian research programme. It covers such topics as fixprice models, real and nominal price rigidities, and coordination failures - the study of which is organized around a few basic principles, which allows a systematic view of a very large and varied literature. The important recent work which derives Keynesian results by looking at imperfections in the labour, credit and commodity markets, is analyzed. The Keynesian literature developed in the 80s on macroeconomic externalities and hysteresis is also considered.
Author : Source Wikipedia
Publisher : University-Press.org
ISBN 13 : 9781230837673
Total Pages : 84 pages
Book Rating : 4.8/5 (376 download)
Download or read book New Keynesian Economics written by Source Wikipedia and published by University-Press.org. This book was released on 2013-09 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 23. Chapters: Coordination failure (economics), Credit rationing, Diamond coconut model, Dynamic stochastic general equilibrium, Efficiency wage, Hysteresis (economics), Implicit contract theory, Insider-outsider theory of employment, Kiyotaki-Moore model, Menu cost, Real rigidity, Sticky (economics). Excerpt: Credit rationing refers to the situation where lenders limit the supply of additional credit to borrowers who demand funds, even if the latter are willing to pay higher interest rates. It is an example of market imperfection, or market failure, as the price mechanism fails to bring about equilibrium in the market. It should not be confused with cases where credit is simply "too expensive" for some borrowers, that is, situations where the interest rate is deemed too high. On the contrary, the borrower would like to acquire the funds at the current rates, and the imperfection refers to the absence of equilibrium in spite of willing borrowers. In other words, at the prevailing market interest rate, demand exceeds supply, but lenders are not willing to either loan more funds, or raise the interest rate charged, as they are already maximising profits. Credit rationing is not the same phenomenon as the better-known case of food rationing, common in times of war. In that case, shortages lead governments to control the food portions allocated to individuals, who would be willing to pay higher prices for more portions. However, credit rationing is not necessarily the result of credit shortages but rather of asymmetric information. More importantly, food rationing is a result of direct government action, while credit rationing is a market outcome. Two main types of credit rationing can usually be distinguished. "Redlining" refers to the situation where some specific group of borrowers, who share an identifiable trait, cannot obtain...
Author : Seonghwan Oh
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.:/5 (212 download)
Download or read book The New Perspective on Keynesian Coordination Failure written by Seonghwan Oh and published by . This book was released on 1989 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michel De Vroey
Publisher : Cambridge University Press
ISBN 13 : 0521898439
Total Pages : 451 pages
Book Rating : 4.5/5 (218 download)
Download or read book A History of Macroeconomics from Keynes to Lucas and Beyond written by Michel De Vroey and published by Cambridge University Press. This book was released on 2016-01-08 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : 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 : Ms.Valerie Cerra
Publisher : International Monetary Fund
ISBN 13 : 1513536990
Total Pages : 50 pages
Book Rating : 4.5/5 (135 download)
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Author : Thomas Cate
Publisher : Edward Elgar Publishing
ISBN 13 : 1782546790
Total Pages : 705 pages
Book Rating : 4.7/5 (825 download)
Download or read book An Encyclopedia of Keynesian Economics, Second edition written by Thomas Cate and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 705 pages. Available in PDF, EPUB and Kindle. Book excerpt: Acclaim for the first edition: ÔThis easy-to-read collection . . . tells the whole story. Filled with short, well-written pieces, the encyclopedia covers the names and ideas that preceded Keynes, that carried his work to the center of the profession, and that eventually supplanted him there . . . There are excellent and unexpected articles on the Austrian school, the Lausanne school, and the Ricardo effect. There are well-done pieces on all the basic theoretical models at the heart of Keynesianism . . . [the] volume has been well put together. The editors deserve special praise for letting each contributor tell his own story. Those who oppose KeynesÕs ideas are just as well represented as those who carry the torch for him. This evenhandedness helps to ensure a volume that is truly representative and that will allow its users to get a full picture of the life and times of Keynesian economics.Õ Ð Bradley W. Bateman, Grinnell College, US ÔThe book will also be of some interest to serious scholars, partly because it includes biographies of many economists too young to have been included in the New Palgrave, such as Dornbusch, Fisher, Herschel Grossman, Kregel, Lucas, and Robert Townsend. It also includes some very interesting longer essays.Õ Ð Peter Howitt, The Economic Journal ÔThis book provides an excellent summary of the many strands of ÔKeynesianÕ- style thought both before and after 1936. Its well-considered entries take care to make explicit the assumptions and fundamental points of difference between theories too often concealed by the parents and advocates of specific theories in their zeal to promote the universality of the ideas. There is scarcely an entry that suffers from wordiness and repetition; the readerÕs scarce time is not abused.Õ Ð Elizabeth Webster, Economic Record ÔThis reviewer found using this source exhilarating and endowed with additional interest in view of the 1997 discussion on the inclusion or noninclusion of Keynesian economics in introductory economics textbooks. The editors should be applauded for helping to preserve a part of intellectual heritage.Õ Ð Bogdan Mieczkowski, American Reference Books ÔIt is the best single reference source on Keynesian economics and will be welcomed by students and teachers in economics as well as scholars in related social sciences and government policy makers.Õ Ð Educational Book Review This thoroughly revised and updated second edition of a highly acclaimed and authoritative reference work introduces the major concepts in the field of Keynesian economics. The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail. The second edition will ensure that An Encyclopedia of Keynesian Economics will remain the best single reference source on Keynesian economics and will continue to be welcomed by academics, students and teachers of economics as well as by scholars in related social sciences and government policymakers.
Author : Roger E. Backhouse
Publisher : Cambridge University Press
ISBN 13 : 110702319X
Total Pages : 239 pages
Book Rating : 4.1/5 (7 download)
Download or read book Transforming Modern Macroeconomics written by Roger E. Backhouse and published by Cambridge University Press. This book was released on 2013 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 : Michel de Vroey
Publisher : Psychology Press
ISBN 13 : 0415407109
Total Pages : 315 pages
Book Rating : 4.4/5 (154 download)
Download or read book Involuntary Unemployment written by Michel de Vroey and published by Psychology Press. This book was released on 2004 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book tackles the issue of involuntary employment, examining the issue in the light of Keynesian and Post-Keynesian theory.
Author : Alan Blinder
Publisher : Russell Sage Foundation
ISBN 13 : 1610440684
Total Pages : 412 pages
Book Rating : 4.6/5 (14 download)
Download or read book Asking About Prices written by Alan Blinder and published by Russell Sage Foundation. This book was released on 1998-01-08 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do consumer prices and wages adjust so slowly to changes in market conditions? The rigidity or stickiness of price setting in business is central to Keynesian economic theory and a key to understanding how monetary policy works, yet economists have made little headway in determining why it occurs. Asking About Prices offers a groundbreaking empirical approach to a puzzle for which theories abound but facts are scarce. Leading economist Alan Blinder, along with co-authors Elie Canetti, David Lebow, and Jeremy B. Rudd, interviewed a national, multi-industry sample of 200 CEOs, company heads, and other corporate price setters to test the validity of twelve prominent theories of price stickiness. Using everyday language and pertinent scenarios, the carefully designed survey asked decisionmakers how prominently these theoretical concerns entered into their own attitudes and thought processes. Do businesses tend to view the costs of changing prices as prohibitive? Do they worry that lower prices will be equated with poorer quality goods? Are firms more likely to try alternate strategies to changing prices, such as warehousing excess inventory or improving their quality of service? To what extent are prices held in place by contractual agreements, or by invisible handshakes? Asking About Prices offers a gold mine of previously unavailable information. It affirms the widespread presence of price stickiness in American industry, and offers the only available guide to such business details as what fraction of goods are sold by fixed price contract, how often transactions involve repeat customers, and how and when firms review their prices. Some results are surprising: contrary to popular wisdom, prices do not increase more easily than they decrease, and firms do not appear to practice anticipatory pricing, even when they can foresee cost increases. Asking About Prices also offers a chapter-by-chapter review of the survey findings for each of the twelve theories of price stickiness. The authors determine which theories are most popular with actual price setters, how practices vary within different business sectors, across firms of different sizes, and so on. They also direct economists' attention toward a rationale for price stickiness that does not stem from conventional theory, namely a strong reluctance by firms to antagonize or inconvenience their customers. By illuminating how company executives actually think about price setting, Asking About Prices provides an elegant model of a valuable new approach to conducting economic research.
Author : Edmund S. Phelps
Publisher : Oxford University Press
ISBN 13 : 0198283334
Total Pages : 125 pages
Book Rating : 4.1/5 (982 download)
Download or read book Seven Schools of Macroeconomic Thought written by Edmund S. Phelps and published by Oxford University Press. This book was released on 1990 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seven Schools of Macroeconomic Thought offers an excellent survey of various macroeconomic topics that feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of macroeconomic approaches by a scholar whose own contribution to the field is considerable. In each of his seven chapters, the author reviews one school of economic thought. These are: the Keynesian school of macroeconomics; the monetarist school; the New Classical school; the New-Keynesian school; supply side macroeconomics, and `non-monetary' models of macroeconomics - the real business cycle theory and the 'structuralist school' which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy.
Author : Yair Listokin
Publisher : Harvard University Press
ISBN 13 : 0674976053
Total Pages : 281 pages
Book Rating : 4.6/5 (749 download)
Download or read book Law and Macroeconomics written by Yair Listokin and published by Harvard University Press. This book was released on 2019-03-11 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2008, private-sector spending took a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach, used in the New Deal, to harness law’s ability to function as a macroeconomic tool, stimulating or relieving demand as required under certain crisis conditions.
