Download or read book Monetarist Keynesian and New Classical Economics written by Jerome L. Stein and published by Wiley-Blackwell. This book was released on 1982-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: The unsettled state of macroeconomics; The structural equations of a general macrodynamic model; The three gospels; Empirical analysis; Monetary and fiscal policy in a growing economy.
Download or read book Monetarist Keynesian and New Classical Economics written by Jerome L. Stein and published by New York : New York University Press. This book was released on 1983 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetarist Economics written by Milton Friedman and published by Wiley-Blackwell. This book was released on 1991-01 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetarist Keynesian and New Classical Economics written by Jerome J. Stein and published by . This book was released on 1982 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the varying views in macroeconomic theory among the Monetarists, Keynesians and New Classical economists, focusing on disagreements concerning the controllability of the system and its responses to disturbances. Explores each group's views on the impact of anti-inflationary monetary policy on employment and GNP, as well as the New Classical economists' theory of rational expectations.
Download or read book Raising Keynes written by Stephen A. Marglin and published by Harvard University Press. This book was released on 2020-07-14 with total page 921 pages. Available in PDF, EPUB and Kindle. Book excerpt: Back to the future: a heterodox economist rewrites Keynes's General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century. John Maynard Keynes's General Theory of Employment, Interest, and Money was the most influential economic idea of the twentieth century. But, argues Stephen Marglin, its radical implications were obscured by Keynes's lack of the mathematical tools necessary to argue convincingly that the problem was the market itself, as distinct from myriad sources of friction around its margins. Marglin fills in the theoretical gaps, revealing the deeper meaning of the General Theory. Drawing on eight decades of discussion and debate since the General Theory was published, as well as on his own research, Marglin substantiates Keynes's intuition that there is no mechanism within a capitalist economy that ensures full employment. Even if deregulating the economy could make it more like the textbook ideal of perfect competition, this would not address the problem that Keynes identified: the potential inadequacy of aggregate demand. Ordinary citizens have paid a steep price for the distortion of Keynes's message. Fiscal policy has been relegated to emergencies like the Great Recession. Monetary policy has focused unduly on inflation. In both cases the underlying rationale is the false premise that in the long run at least the economy is self-regulating so that fiscal policy is unnecessary and inflation beyond a modest 2 percent serves no useful purpose. Fleshing out Keynes's intuition that the problem is not the warts on the body of capitalism but capitalism itself, Raising Keynes provides the foundation for a twenty-first-century macroeconomics that can both respond to crises and guide long-run policy.
Download or read book The New Classical Macroeconomics written by Arjo Klamer and published by Brighton, Sussex : Wheatsheaf Books. This book was released on 1984 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Finance Development September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.
Download or read book The General Theory of Employment Interest and Money written by John Maynard Keynes and published by Springer. This book was released on 2018-07-20 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Download or read book Post Keynesian Economic Theory written by Philip Arestis and published by . This book was released on 1985 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This collection of major new essays offers a full range of alternative ways of looking at the economy. The alternatives adopted here focus on the post-Keynesian body of thought. The authors call into question the traditional ways of thinking on a number of economic issues... The essays offered here represent a serious challenge to the prevailing orthodoxies and demand new ways of thinking about economics."--p. [4] of cover.
Download or read book Classical Keynesianism Monetary Theory and the Price Level written by Sidney Weintraub and published by Pickle Partners Publishing. This book was released on 2018-12-05 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since I wrote my small volume on A General Theory of the Price Level, etc., I have often been asked for a fuller statement of my views, or my attitude on various matters treated only briefly at that time....I hope that the collection of essays that are contained herein fill in many of these gaps and answer the major part of the queries that admit of such elaboration.” In my opinion there are two contending theories of the price level: that deriving from the Equation of Exchange in one or another of its forms, and that based on cost, especially wage, phenomena. Thus the debate must be resolved primarily between two major sets of ideas on the subject of inflation. In this light it would be a welcome event, if those Keynesians in economics, who long ago abandoned the various versions of the Quantity Theory of Money and have little truck with the cost theory of the price level, would at least re-examine their views on this subject. It is my deep conviction that most of the literature oriented toward what has been regarded as Keynesian thinking has had very little to contribute toward understanding price level phenomena despite superficial appearances toward the contrary. The importance of this assertion cannot be overstated for, in bulk, this literature is already voluminous and in teaching importance it represents the dominant modern fashion. Yet, in my opinion, on the fundamental problems of price level inflation and deflation, I believe it to be wholly barren and devoid of substance. Perhaps these essays will reveal the stark nakedness of the concepts in the price dimensions that interest all of us.—Sidney Weintraub
Download or read book John Maynard Keynes written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-01-19 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: Who is John Maynard Keynes John Maynard Keynes, 1st Baron Keynes was an English economist and philosopher whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. One of the most influential economists of the 20th century, he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. He is known as the "father of macroeconomics". How you will benefit (I) Insights about the following: Chapter 1: John Maynard Keynes Chapter 2: Keynesian economics Chapter 3: Monetarism Chapter 4: Post-Keynesian economics Chapter 5: Stockholm School (economics) Chapter 6: Liquidity trap Chapter 7: Roy Harrod Chapter 8: Alvin Hansen Chapter 9: History of economic thought Chapter 10: Neoclassical synthesis Chapter 11: New classical macroeconomics Chapter 12: Paul Davidson (economist) Chapter 13: Axel Leijonhufvud Chapter 14: 2008?2009 Keynesian resurgence Chapter 15: Keynesian Revolution Chapter 16: History of macroeconomic thought Chapter 17: Athanasios Asimakopulos Chapter 18: Post-war displacement of Keynesianism Chapter 19: Keynes: The Return of the Master Chapter 20: Mark Gerard Hayes Chapter 21: Marxism and Keynesian economics Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information about John Maynard Keynes.
Download or read book Keynes the Keynesians and Monetarism written by Tim Congdon and published by Edward Elgar Publishing. This book was released on 2007 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: ''Keynes, the Keynesians and Monetarism is an intriguing miscellaneous of essays by one of Britain''s leading monetarist economists in the 1980s and in the 1990s. The book indeed brings together the main academic papers written by the author revising and up-to-dating the previous collection titled, Reflections on Monetarism, with the new papers published in the first years of 2000. The book by this "advocate" of monetarism is very often appealing and provocative, covering topics that are fundamental to macroeconomic thinking and policy-making. . . certainly appealing for macroeconomists and researchers. . .'' Lino Sau, History of Economic Ideas ''In the context of the current economic climate, this volume provides an excellent opportunity for reappraising the arguments on both sides of the debate. . . The importance of this volume is that it provides the interested reader with an excellent summary of the monetarist position prior to the current crisis.'' Economic Outlook and Business Review ''Tim Congdon has been Britain''s leading monetarist for about three decades. . . He has a sharp eye for statistics, for history, for the twists and flows of intellectual fads, and for the political arena where debate hardens suddenly into the stone of decision. He is subtle, practical, bellicose and highly articulate. This volume is vintage Congdon in every sense.'' Peter Sinclair, The Business Economist ''Tim Congdon''s book revisits the intellectual battlefields of British monetary theory and policy. A doughty advocate of monetarism, he is stimulating, controversial and entertaining.'' Charles Goodhart, London School of Economics and Political Science, UK ''Whether rescuing Keynes from the "Keynesians" or finding support in his earlier works for a distinctly British version of Monetarism, Tim Congdon writes with engaging and provocative enthusiasm. This is a timely collection too, coming from a long-standing exponent of ideas that policy makers are once again beginning to take seriously. It deserves the careful attention of anyone interested in British monetary policy.'' David Laidler, University of Western Ontario, Canada ''As with all Tim Congdon''s writing, beautifully written and vigorously argued.'' Robert Sidelsky, author of the biography John Maynard Keynes: Economist, Philosopher, Statesman Keynes, the Keynesians and Monetarism is a major contribution to the continuing debate on macroeconomic policy-making. Tim Congdon has been a strong supporter of monetarist economic principles for over 30 years. His writings in the newspapers and for parliamentary committees, as well as in academic journals played an influential role in the transformation of British macroeconomic policy in the 1980s and 1990s. This book brings together the main papers written by the author since his 1992 collection, Reflections on Monetarism. It challenges several ''conventional wisdoms'' about UK macroeconomic policy (and thinking about policy), arguing for example that the Keynesians'' advocacy of incomes policy and fiscal activism in the immediate post-war decades did not have a clear basis in Keynes''s own writings. The book denies that the UK had a ''Keynesian revolution'', in the sense of a deliberately pursued fiscal activism to promote ''full employment''. Implicit throughout the volume is a distinctive view of how the economy works, with an account of the transmission mechanism (from money to the economy) in which movements in asset prices and aggregate demand are strongly influenced by the quantity of money. Congdon uses this approach to demonstrate that monetary policy has had more powerful effects on macroeconomic activity in the post-war period than fiscal policy. He also suggests that the now fashionable ''New Keynesian'' view of policy-making acknowledges the primacy of monetary policy and would be better termed ''output gap monetarism''. In short, Keynes, the Keynesians and Monetarism contends that monetarism defeated Keynesianism in the battle of ideas in the 1970s and 1980s. The achievement of greater macroeconomic stability in the last 15 years is largely due to the impact of monetarist thinking on policy-making. The book is clearly and attractively written, and covers topics that are fundamental to macroeconomic thinking and policy-making. It will be a provocative and appealing read for scholars at all levels of economics, macroeconomics and monetary theory. It will also find an audience among policymakers in central banks and finance ministries, business economists working in companies, and financial economists in the City of London and other centres.
Download or read book Monetary Theory written by Alan A. Rabin and published by Edward Elgar Publishing. This book was released on 2004-01-01 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a valuable and scholarly contribution to modern monetary theory. It keeps alive the ideas of monetary disequilibrium proposed by such writers as Clower, Leijonhufvud, Yeager and Laidler. While so much of monetary theory has focused on aggregate issues of how national income and the rate of inflation are determined, making use of large scale general equilibrium models, this work aims at the more fundamental question of how monetary factors facilitate the realization of gains from trade at the micro level, how they affect adjustment processes that work in individual markets, and how the interaction between these individual adjustment processes determines the performance of the overall economic system. The book is definitely worth the attention of any serious student of money. Peter Howitt, Brown University, US Alan Rabin argues that new Keynesian and new classical macroeconomics, which have dominated the literature and textbooks, have crowded the monetary-disequilibrium hypothesis, or orthodox monetarism, off the intellectual stage. Trying to remedy this imbalance, the author concentrates on what he judges to be the essentials of monetary theory. Emphasizing money s fundamental role in lubricating exchanges and promoting economic coordination, Alan Rabin argues that when the lubricant goes awry, so do the processes being lubricated. Monetary disequilibrium can have repercussions that last months and even years. The book presents the author s interpretation of Yeager s enormous contributions to monetary theory, especially his development of monetary-disequilibrium theory, while also building on the contributions of Patinkin, Clower, Leijonhufvud, Barro and Grossman, and Laidler. A unique hybrid of treatise and graduate text, Monetary Theory fills a tremendous void in the current literature and will be of interest to scholars and students of monetary theory and economic thought.
Download or read book Macroeconomics After Thatcher and Reagan written by John N. Smithin and published by Aldershot, Hants, England ; Brookfield, Vt., USA : E. Elgar. This book was released on 1990 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: This widely acclaimed book critically assesses the attempts to put the various 'conservative economic' theories into practice. It identifies the disparate and often conflicting elements of the new economic philosophy including monetarism, 'supply-side' economics and the new classical economics. It distinguishes the purely macroeconomic parts of the strategy from those with a more microeconomic focus such as deregulation and privatization. It makes a detailed comparison of the very different directions which the 'conservative revolution' has taken in Britain and the United States, and suggests some alternative policy principles for the future.
Download or read book The Economic Consequences of the Peace written by John Maynard Keynes and published by Simon Publications LLC. This book was released on 1920 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: John Maynard Keynes, then a rising young economist, participated in the Paris Peace Conference in 1919 as chief representative of the British Treasury and advisor to Prime Minister David Lloyd George. He resigned after desperately trying and failing to reduce the huge demands for reparations being made on Germany. The Economic Consequences of the Peace is Keynes' brilliant and prophetic analysis of the effects that the peace treaty would have both on Germany and, even more fatefully, the world.
Download or read book Taking Money Seriously and Other Essays written by David E. W. Laidler and published by Cambridge, Mass. : MIT Press. This book was released on 1990 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Putting the matters back into money matters is David Laidler's intent in this collection of ten essays on the role of monetary institutions in the development of monetary theory and the implications of these ideas for policy. Together, the essays provide a coherent and accessible introduction to the power and range of thinking by one of the world's leading monetary economists. In Taking Money Seriously Laidler seeks to develop and sustain monetarist ideas of the 1960s in relationship to the new classical economics and to argue their continued policy relevance. Money matters, he points out, because monetary exchange rather than the Walrasian market coordinates economic activity in the real world. Laidler's discussion of the costs of inflation points up the importance of money's means-of-exchange role and is followed by an extended critique of new classical economics. He devotes several chapters to policy issues, in which he asserts that the monetary system is a public good whose organization and control present inherently political problems. David Laidler is Professor of Economics at the University of Western Ontario.
Download or read book The Theory of New Classical Macroeconomics written by Peter Galbács and published by Springer. This book was released on 2015-04-23 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines new classical macroeconomics from a comparative and critical point of view that confronts the original texts and later comments as a first dimension of comparison. The second dimension appears in a historical context, since none of the new classical doctrines can be analyzed ignoring the parallelism and discrepancies with the theory of Keynes, Friedman or Phelps. Radicalism of new classical macroeconomics has brought fundamental changes in economic thought, but the doctrines got vulgarized and distorted thanks to the mass of followers. Nowadays, economic theory and policy, trying to find their ways, have a less clear relationship than ever. Therefore, this volume is aimed at mapping and reconsidering the policy instruments and transmission mechanisms offered by the new classicals. Its central question points to the real nature of new classical macroeconomics: what consequences are grounded by the assumptions new classicals used. Moreover, issues raised by automatic fiscal stabilizers and fiscal reforms are analyzed as well, even if they were out of the range of classical texts. The book draws a picture of new classical macroeconomics stressing the analogies with Keynesian countercyclical policies, instead of the discrepancies commonly held.
