Dynamic Macroeconomics: Instability, Fluctuations And Growth In Monetary Economies (Studies In Dynamical Economic Science)

Flaschel, Peter; Franke, Reiner; Semmler, Willi

ISBN 10: 0262061910 / ISBN 13: 9780262061919

Published by Mit Pr, 1997

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Synopsis:

Dynamic Macroeconomics is an attempt to revitalize the traditions of nonmarket clearing approaches to macroeconomics. Using sophisticated tools from dynamic analysis, the authors introduce a consistent, integrated framework for disequilibrium macroeconomic dynamics and explore its relationship to the competing―and currently dominant―equilibrium dynamics. The book is organized into five parts. Part I covers background models of market-clearing and nonmarket-clearing approaches. Part II introduces short-run monetary models of macroeconomic fluctuations that build on the dynamic interaction of product, labor, and financial markets. Part III explores monetary instability in variants with capital accumulation and growth. Part IV explores supply and demand side Keynesian business cycles and monetary-type growth models. Part V considers the role of the financial sector as a source of instability and fluctuations.

About the Authors: Peter Flaschel is Chair of Theoretical Economics in the Department of Business Administration and Economics at the University of Bielefeld, Germany.

Willi Semmler is Arnhold Professor of International Cooperation and Development at the New School for Social Research.

Bibliographic Details

Title: Dynamic Macroeconomics: Instability, ...
Publisher: Mit Pr
Publication Date: 1997
Binding: Hardcover
Condition: New