Modern macroeconomics its origins, development and current state
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cheltenham, UK [u.a.]
Elgar
2005
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| 100 | 1 | |a Snowdon, Brian |d 1947- |e Verfasser |0 (DE-588)124298834 |4 aut | |
| 245 | 1 | 0 | |a Modern macroeconomics |b its origins, development and current state |c Brian Snowdon ; Howard R. Vane |
| 264 | 1 | |a Cheltenham, UK [u.a.] |b Elgar |c 2005 | |
| 300 | |a XVIII, 807 S. |b Ill., graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
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| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Hier auch später erschienene, unveränderte Nachdrucke | ||
| 500 | |a Includes bibliographical references and index | ||
| 648 | 7 | |a Geschichte |2 gnd |9 rswk-swf | |
| 650 | 4 | |a Keynésianisme | |
| 650 | 7 | |a Macro-economie |2 gtt | |
| 650 | 4 | |a Macroéconomie | |
| 650 | 4 | |a Économie politique comparée | |
| 650 | 4 | |a aMacroeconomics | |
| 650 | 4 | |a aKeynesian economics | |
| 650 | 4 | |a aComparative economics | |
| 650 | 0 | 7 | |a Keynessche Theorie |0 (DE-588)4030426-7 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Makroökonomie |0 (DE-588)4037174-8 |2 gnd |9 rswk-swf |
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Datensatz im Suchindex
| DE-BY-TUM_call_number | 1002 WIR 050f 2005 A 6610 |
|---|---|
| DE-BY-TUM_katkey | 1510863 |
| DE-BY-TUM_location | 10 |
| DE-BY-TUM_media_number | 040050401826 |
| DE-BY-UBM_katkey | 3149669 |
| DE-BY-UBM_media_number | 99995382671 99994302540 |
| _version_ | 1823053061939003392 |
| adam_text | Contents
List of figures
χ
List of tables
xiii
Preface
xiv
Acknowledgements
xvii
1
Understanding modern macroeconomics
1
. 1
Macroeconomic issues and ideas
1
.2
The role of economic theory and controversy
3
.3
Objectives, instruments and the role of government
7
.4
The Great Depression
9
.5
Keynes and the birth of macroeconomics
13
.6
The rise and fall of the Keynesian consensus
15
.7
Theoretical schizophrenia and the neoclassical synthesis
21
.8
Schools of thought in macroeconomics after Keynes
24
.9
The new political macroeconomics
29
.10
The renaissance of economic growth research
32
2
Keynes v. the old classical model
36
2.1
Introduction
36
2.2
Classical macroeconomics
37
2.3
Employment and output determination
38
2.4
Say s Law
45
2.5
The quantity theory of money
50
2.6
Keynes s General Theory
54
2.7
Interpreting the General Theory
57
2.8
Keynes s main propositions
58
2.9
Key ness analysis of the labour market
65
2.10
Keynes s rejection of Say s Law
69
2.1
1 Keynes and the quantity theory of money
69
2.12
Three important interpretations of Keynes
70
2.13
The new Keynes scholarship
75
2.14
Causes and consequences of the Great Depression
76
2.15
How to pay for the war
82
2.16
Kevnes and international macroeconomics
83
VI
Modern macroeconomics
2.17
Keynes s legacy and the classical revival
85
Interview with Robert Skidelsky
91
3
The orthodox Keynesian school
101
3.1
Introduction
101
3.2
The orthodox Keynesian school
102
3.3
The IS-LM model for a closed economy
102
3.4
Underemployment equilibrium in the Keynesian model
114
3.5
The IS-LM model for an open economy
123
3.6
The Phillips curve and orthodox Keynesian economics
135
3.7
The central propositions of orthodox Keynesian economics
144
Interview with James
Tobin
148
4
The orthodox monetarist school
163
4.
1 Introduction
163
4.2
The quantity theory of money approach
165
4.3
The expectations-augmented Phillips curve analysis
174
4.4
The monetary approach to balance of payments theory and
exchange rate determination
І
87
4.5
The orthodox monetarist school and stabilization policy
192
Interview with Milton Friedman
198
5
The new classical school
219
5.1 Introduction
219
5.2
The influence of Robert E. Lucas Jr
220
5.3
The structure of new classical models
223
5.4
Equilibrium business cycle theory
236
5.5
The policy implications of the new classical approach
242
5.6
An assessment
267
Interview with Robert E. Lucas Jr
272
6
The ml business cycle school
294
6.
1 Introduction: the demise of new classical macroeconomics
mark I
294
6.2
The transition from monetary to real equilibrium business
cycle theory 295
63
Real business cycle theory in historical perspective
297
6.4
Cycles versus random walks 30q
6Љ
Supply-side shocks 303
6.6
Business
cycles: main features and stylized facts
304
6.7
Real
business
cycle theory 307
6Л
The structure of a real business cycle model
309
Contents
vii
6.9
Technology shocks
ЗІЗ
6.10
A real business cycle aggregate demand and supply model
315
6.11
Calibrating the model
320
6.
1
2
Real business cycle theory and the neutrality of money
322
6.13
Measuring technology shocks: the Solow residual
325
6.14
Real business cycle theory and the stylized facts
326
6.15
The policy implications of real business cycle theory
330
6.16
Criticisms of real business cycle theory
332
6.17
Great Depressions: a real business cycle view
336
6.18
An assessment
338
Interview with Edward C. Prescott
344
7
The new Keynesian school
357
7.1
The fall and rise of Keynesian economics
357
7.2
A Keynesian resurgence
358
7.3
New Keynesian economics
361
7.4
Core propositions and features of new Keynesian economics
363
7.5
Nominal rigidities
366
7.6
Dornbusch s overshooting model
376
7.7
Real rigidities
378
7.8
New Keynesian business cycle theory
396
7.9
Hysteresis and the NAIRU
401
7.10
New Keynesian economics and the stylized facts
408
7.11
Policy implications
409
7.12
Keynesian economics without the LM curve
423
7.13
Criticisms of new Keynesian economics
428
7.14
An assessment of new Keynesian economics
431
Interview with
N.
Gregory Mankiw
433
8
The Post Keynesian school
451
Paul Davidson
8.
1 Introduction
451
8.2
The significance of the principle of effective demand
453
8.3
Taxonomy
454
8.4
Key
nes s
taxonomie
attack on Say s Law
455
8.5
Can relative price changes induce D2 to fill the gap?
457
8.6
Investment spending, liquidity, and the non-neutrality of
money axiom
459
8.7
What type or
ал
economic system is irrational enough to use
money contracts0
461
8.8
Information, decisions and uncertainty
463
8.9
Classifying decision-making environments
464
Vììl
Modern macroeconomics
8.10
Keynesian
uncertainty, money and explicit money contracts
468
8.11
Conclusions
472
9
The Austrian school 474
Roger W. Garrison
9.1
The Mengerian vision
474
9.2
The
intertemporal
structure of capital
475
9.3
Saving and economic growth
479
9.4
The saving-investment nexus
482
9.5
The market for loanable funds
489
9.6
Full employment and the production possibilities frontier
492
9.7
The capital-based
macroeconomic
framework
496
9.8
Saving-induced capital restructuring
498
9.9
Keynes s paradox of thrift revisited
501
9.10
The Austrian theory of the business cycle
503
9.
11 A Keynesian downturn in the Austrian framework
509
9.12
Inflation and deflation in the Austrian theory
513
9.13
Pol icy and reform
515
10
The new political macroeconomics
517
10.
1 Introduction: political distortions and
macroeconomic
performance
517
10.2
Political influences on policy choice
518
10.3
The role of government
521
10.4
Politicians and stabilization policy
523
10.5
Alternative approaches to the political business cycle : an
overview
525
10.6
The
Nordhaus
opportunistic model
526
10.7
The Hibbs partisan model
532
10.8
The decline and renaissance of opportunistic and partisan
models
535
10.9 Rational
political business cycles
537
10.10
Rational partisan theory
538
10.
11 Opportunistic and partisan behaviour: a synthesis
545
10.12
Politics, time inconsistency, credibility and reputation
546
10.13
Policy implications of politico-economic models: an
t
іюв
pendent
соіііяі
bank? S4-Q
10.14
The political economy of debt and deficits
554
10.15
Political and economic instability: are they related?
555
10-16
The political economy of economic growth
556
10.17
Political barriers to economic growth
iai8 The
«te
f ti
Contents
ix
10.19
Conclusion
565
interview with Alberto Alesina
567
11
The renaissance of economic growth research
579
.1
Introduction
579
.2
The Great Divergence
580
.3
In praise of economic history
584
.4
Back to the long run
585
.5
Why is economic growth so important?
589
.6
Modern economic growth in historical perspective
593
.7
The stylized facts of growth
595
.8
Proximate v. fundamental sources of growth
596
.9
The Harrod-Domar model
598
.10
The Solow neoclassical growth model
602
. 11
Accounting for the sources of economic growth
612
. 12
The convergence debate
614
. 13
Beyond the Solow model
622
.14
Endogenous growth: constant returns to capital accumulation
625
. 15
Endogenous growth: the economics of ideas
627
.16
An augmented Solow model: a neoclassical revival?
632
.17
Focusing on the fundamental causes of growth
633
.18
Institutions and economic growth
635
.19
Trade and economic growth
647
.20
Geography and growth
652
.21
Growth in history: in search of a unified theory
654
.22
The ideal conditions for growth and development:
rediscovering old truths
657
interview with Robert M. Solow
660
interview with Paul M.
Romer
673
12
Conclusions and reflections
695
12.1
Introduction
695
12.2
Twentieth-century developments in macroeconomics:
evolution or revolution?
696
12.3
Is there a consensus on key macroeconomic issues?
703
Bibliography
708
Author index
791
Subject index
803
|
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| id | DE-604.BV019698624 |
| illustrated | Illustrated |
| indexdate | 2025-02-03T16:57:40Z |
| institution | BVB |
| isbn | 184376394X 1845422082 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-013026247 |
| oclc_num | 56191996 |
| open_access_boolean | |
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| physical | XVIII, 807 S. Ill., graph. Darst. |
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| spellingShingle | Snowdon, Brian 1947- Modern macroeconomics its origins, development and current state Keynésianisme Macro-economie gtt Macroéconomie Économie politique comparée aMacroeconomics aKeynesian economics aComparative economics Keynessche Theorie (DE-588)4030426-7 gnd Makroökonomie (DE-588)4037174-8 gnd Wirtschaftstheorie (DE-588)4079351-5 gnd |
| subject_GND | (DE-588)4030426-7 (DE-588)4037174-8 (DE-588)4079351-5 |
| title | Modern macroeconomics its origins, development and current state |
| title_auth | Modern macroeconomics its origins, development and current state |
| title_exact_search | Modern macroeconomics its origins, development and current state |
| title_full | Modern macroeconomics its origins, development and current state Brian Snowdon ; Howard R. Vane |
| title_fullStr | Modern macroeconomics its origins, development and current state Brian Snowdon ; Howard R. Vane |
| title_full_unstemmed | Modern macroeconomics its origins, development and current state Brian Snowdon ; Howard R. Vane |
| title_short | Modern macroeconomics |
| title_sort | modern macroeconomics its origins development and current state |
| title_sub | its origins, development and current state |
| topic | Keynésianisme Macro-economie gtt Macroéconomie Économie politique comparée aMacroeconomics aKeynesian economics aComparative economics Keynessche Theorie (DE-588)4030426-7 gnd Makroökonomie (DE-588)4037174-8 gnd Wirtschaftstheorie (DE-588)4079351-5 gnd |
| topic_facet | Keynésianisme Macro-economie Macroéconomie Économie politique comparée aMacroeconomics aKeynesian economics aComparative economics Keynessche Theorie Makroökonomie Wirtschaftstheorie |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=013026247&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT snowdonbrian modernmacroeconomicsitsoriginsdevelopmentandcurrentstate AT vanehowardr modernmacroeconomicsitsoriginsdevelopmentandcurrentstate |