Advances in Monetary Policy and Macroeconomics
Contributors: Philip Arestis (Editor); Gennaro Zezza (Editor)
Publisher: Palgrave Macmillan
Published: May 15, 2007
Language: eng
Format: Hardcover
Number of pages: 288
ISBN-13: 9780230004948
Subjects: Macroeconomics; Business & Economics; Business / Economics / Finance; Business/Economics; Economics - Macroeconomics; Business & Economics / Macroeconomics; Applied; Money & Monetary Policy; Congresses; Econometric models; Monetary Policy
Description: In the post-war period, macroeconomic modeling of developed economies was mainly rooted in Keynesian theory up to the 1970s, when the failure of applied models in dealing with stagflation led to a shift in economic theory towards supply side models, rational expectations, optimizing behaviour et cetera Still, though, theoretical macroeconomic models are developed and discussed among economists of Keynesian persuasion. This book collects state-of-the-art results in what one may broadly label as Keynesian macroeconomic modeling, both on theoretical and empirical grounds.