Modern Macroeconomics: Its Origins, Development and Current StateSnowdon and Vane s book is extremely welcome. Indeed the authors examine, compare, and evaluate the evolution of the major rival stories comprising contemporary macroeconomic thought, but they also trace the development and interaction of key events and i |
Contents
| 1 | |
2 Keynes v the old classical model | 36 |
3 The orthodox Keynesian school | 101 |
4 The orthodox monetarist school | 163 |
5 The new classical school | 219 |
6 The real business cycle school | 294 |
7 The new Keynesian school | 357 |
8 The Post Keynesian school | 451 |
9 The Austrian school | 474 |
10 The new political macroeconomics | 517 |
11 The renaissance of economic growth research | 579 |
12 Conclusions and reflections | 695 |
| 708 | |
| 791 | |
| 803 | |
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Common terms and phrases
aggregate demand aggregate supply Alesina analysis approach argued balance of payments Barro behaviour business cycle theory capital central bank Chapter classical model consumption costs countries demand for money economic agents economic growth effects empirical endogenous equation equilibrium example exchange rate factors Figure firms fiscal policy fluctuations Friedman full employment growth rate ideas impact implies important income increase influence interest rate intertemporal investment issues Keynes Keynes’s Keynesian economics Keynesian models labour market long-run Lucas macroeconomics Mankiw ment monetarism monetarist monetary policy money supply money wages NAIRU natural rate neoclassical nomic orthodox Keynesian output and employment Paul Romer period Phillips curve political price level problem procyclical production function production possibilities frontier rate of inflation rate of interest rational expectations real business cycle real wage rigidities role Romer saving Say’s Law shift shocks short-run technology shocks theoretical tion Tobin unemployment variables workers