Monetary Macrodynamics
Routledge (Verlag)
978-0-415-74546-8 (ISBN)
Monetary Macrodynamics shows that the balanced growth path of a capitalist economy is unlikely to be attracting and that the cumulative forces that surround it are controlled in the large by changes in the behavioural factors that drive the wage-price spiral and the financial markets. Such behavioural changes can in fact be observed in actual economies in the interaction of demand-driven business fluctuations with supply-driven wage and price dynamics as they originate from the conflict over income distribution between capital and labour.
The book is a detailed critique of US mainstream macroeconomics and uses rigorous dynamic macro-models of a descriptive and applicable nature. It will be of particular relevance to postgraduate students and researchers interested in disequilibrium processes, real wage feedback channels, financial markets and portfolio choice, financial accelerator mechanisms and monetary policy.
Toichiro Asada is a Professor in the Faculty of Economics at Chuo University, Tokyo, Japan. Carl Chiarella is Professor of Quantitative Finance at the University of Technology, Sydney. Peter Flaschel is Professor Emeritus at Bielefeld University, Germany. Reiner Franke is a Lecturer in Economics at Kiel University, Germany.
Part I: Conventional AD-AS Modeling 1. Models of Growth, Inflation, and the Real-Financial Market Interaction 2 Neglected Textbook Results: IS-LM-PC Inflation Dynamics 3. Strange AS-AD Outcomes: Rational Expectations Inflation Theory 4. Taking Stock: Keynesian Theories of Aggregate Demand and Supply (by Amitava Dutt and Peter Skott) Part II: Matured Keynesian AD-AS Modeling 5. Expectations and the Real-Wage Feedback Channel. Two Competing Baseline Approaches 6. Beyond Neoclassical Syntheses: A Baseline DAS-AD Model 7. Reformulation and Estimation of the Baseline Model 8. Applied DAD-DAS Modelling: Elaboration and Calibration Part III: Outlook: Real-Financial Markets Interaction from a Keynesian Perspective 9. Keynes-Metzler-Goodwin Growth Dynamics and Tobinian Portfolio Choice
Erscheint lt. Verlag | 11.11.2013 |
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Reihe/Serie | Routledge Frontiers of Political Economy |
Zusatzinfo | 21 Tables, black and white; 57 Line drawings, black and white; 57 Illustrations, black and white |
Verlagsort | London |
Sprache | englisch |
Maße | 156 x 234 mm |
Gewicht | 635 g |
Themenwelt | Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft |
Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik | |
ISBN-10 | 0-415-74546-2 / 0415745462 |
ISBN-13 | 978-0-415-74546-8 / 9780415745468 |
Zustand | Neuware |
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