Описание: The book introduces the New Keynesian framework, historically through a literature overview and through a step-by-step derivation of a New Keynesian Phillips curve, an intertemporal IS curve, and a targeting rule for the central bank. This basic version is then expanded by introducing cost and demand shocks and uncertainty. The latter enters the model via second order Taylor approximation instead of linearization. Bringing all equations together results in an equilibrium condition which is simulated with a wide range of parameter values, including possible crisis scenarios. The author finds that accounting for uncertainty – regarding growth and inflation expectations – can lead to lower nominal interest rates set by the central bank.
A new approach for introducing unemployment into the New Keynesian framework.
The past fifteen years have witnessed the rise of the New Keynesian model as a framework of reference for the analysis of fluctuations and stabilization policies. That framework, which combines the rigor and internal consistency of dynamic general equilibrium models with such typically Keynesian assumptions as monopolistic competition and nominal rigidities, makes possible a meaningful, welfare-based analysis of the effects of monetary policy rules. But the conspicuous absence of unemployment from the standard New Keynesian model has given rise to both criticism and attempts to rectify this anomaly. In this book, Jordi Gali, one of the major contributors to the New Keynesian literature, offers a new approach to introducing unemployment into that framework.
Gali's approach involves a reinterpretation of the labor market in the standard New Keynesian model with staggered wage setting (rather than a modification or extension of the model, as has been proposed by others). The resulting framework preserves the convenience of the representative household paradigm and allows one to determine the equilibrium levels of employment, the labor force, and hence the unemployment rate conditional on the monetary policy in place.
Gali develops the basic model, embedding it in a standard New Keynesian framework with staggered price and wage setting; revisits the relationship between economic fluctuations and efficiency through the lens of the new model, developing a measure of the output gap; and analyzes the relation between unemployment and the design of monetary policy.
Автор: Chiarella Название: Reconstructing Keynesian Macroeconomics Volume 2 ISBN: 1138901334 ISBN-13(EAN): 9781138901339 Издательство: Taylor&Francis Рейтинг: Цена: 7042.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book represents the second of three volumes offering a complete reinterpretation and restructuring of Keynesian macroeconomics and offers a detailed analysis and comparison of two competing types of approaches to Keynesian macroeconomics.
Автор: Handa Jagdish Название: The Reformulation of Keynesian Economics ISBN: 9814616095 ISBN-13(EAN): 9789814616096 Издательство: World Scientific Publishing Рейтинг: Цена: 28512.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: John Maynard Keynes` response to the extreme distress of the early years of the Great Depression produced The General Theory, which represented an overhaul of the macroeconomics inherited by his generation.
Автор: Forstater Название: Post-Keynesian Macroeconomics ISBN: 0415547830 ISBN-13(EAN): 9780415547833 Издательство: Taylor&Francis Рейтинг: Цена: 7042.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Edited by three well known academics and contributed to by J. Smithin, L. Moss and G.C. Harcourt, this text reflects the breath of the honouree`s interests, covering political economy, labour economics, history of economic thought and macroeconomics.
Описание: Almost entirely self-educated in economics, and influenced rul much by Marxism as by mainstream theory, Kalecki very largely escaped the fatal embrace of pre-Keynesian orthodoxy, which blunted the thrust of the General Theory.
Описание: Michael Kalecki (1899-1970) was one of the most important economists of the 20th century. In the 1930s he made a series of fundamental contributions to macroeconomic theory which anticipated, complemented, and in some ways surpassed those of Keynes. This volume documents his work.
Автор: S. Fujino Название: A Neo-Keynesian Theory of Inflation and Economic Growth ISBN: 354006964X ISBN-13(EAN): 9783540069645 Издательство: Springer Рейтинг: Цена: 15372.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: 'lhe PUIllooes of this study are to investigate processes of cyclical fluctuations, inflation and economic g: t'Oo'lth, and conComitantly, to relate the short-run analysis to the long-run analysis of the econaT\Y as far as feasible under the confines of this investigation. First of all, we shall present a theory of investnent in Chapter 1. We shall make evident defects included in the neo-classical theory of investnent, founded in particular by I. Fisher and a variant of which is the Keynesian version, by taking into account recent studies of investnent and by formulating a new theory of investnent. Its incorporatim into our dynamic analyses is one of the reasons why the theory developed in this study is referred to as Neo- Keynesian. Brlefly, the theory is characterlzed by firm investnent being a function of the firm's expected stock of money, the expected marginal productivi- ty of capital, and the expected rate of inflation (or the firm's subjective rate of real interest) .
Описание: These two volumes cover the principal areas to which Post-Keynesian economists have made distinctive contributions. The contents include the significant criticism by Post-Keynesians of mainstream economics, but the emphasis is on positive Post-Keynesian analysis of the economic problems of the modern world and of policies with which to tackle them.
Автор: Lavoie Название: Introduction to Post-Keynesian Economics ISBN: 0230007805 ISBN-13(EAN): 9780230007802 Издательство: Springer Рейтинг: Цена: 13974.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: 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.
Описание: These lectures are concerned with the origins of the distinctive policies of the Stockholm School of Economics, of which Lundberg was a leading member. Lundberg explores the historical development of the School and considers its place in the wide Keynesian tradition which dominated macroeconomic thinking in the West from the 1930s till the 1970s.
Автор: G.R. Steele Название: Monetarism and the Demise of Keynesian Economics ISBN: 1349099961 ISBN-13(EAN): 9781349099962 Издательство: Springer Рейтинг: Цена: 22359.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: An examination of the role of money in a dynamic economy within the context of theoretical developments both within and in opposition to, the Quantity Theory tradition. Emphasis is on the dangers of basing economic policy on macroeconomic analysis.
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