Keynes And The Neoclassical Synthesis
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A History Of Macroeconomics From Keynes To Lucas And Beyond
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Author : Michel De Vroey
language : en
Publisher: Cambridge University Press
Release Date : 2016-01-08
A History Of Macroeconomics From Keynes To Lucas And Beyond written by Michel De Vroey and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-08 with Business & Economics categories.
This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Transforming Modern Macroeconomics
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Author : Roger E. Backhouse
language : en
Publisher: Cambridge University Press
Release Date : 2013
Transforming Modern Macroeconomics written by Roger E. Backhouse and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Since the 1950s, macroeconomics has been transformed. This book is about one of the most important aspects of that transformation: the attempt, through the end of the twenty-first century and beyond, to construct macroeconomic models rigorously derived from models of individual firms and households.
The General Theory Of Employment Interest And Money
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Author : John Maynard Keynes
language : en
Publisher: Atlantic Publishers & Dist
Release Date : 2016-04
The General Theory Of Employment Interest And Money written by John Maynard Keynes and has been published by Atlantic Publishers & Dist this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04 with Business & Economics categories.
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Raising Keynes
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Author : Stephen A. Marglin
language : en
Publisher: Harvard University Press
Release Date : 2020-07-14
Raising Keynes written by Stephen A. Marglin and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-07-14 with Business & Economics categories.
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.
The Age Of Fragmentation
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Author : Alessandro Roncaglia
language : en
Publisher: Cambridge University Press
Release Date : 2019-12-05
The Age Of Fragmentation written by Alessandro Roncaglia and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-05 with Business & Economics categories.
A wide-ranging historical account and critical analysis of the global development of economics from 1940 to the present day.
Keynes And The Neoclassical Synthesis
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Author : Dario Togati
language : en
Publisher: Routledge
Release Date : 1998-08-20
Keynes And The Neoclassical Synthesis written by Dario Togati and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-08-20 with Business & Economics categories.
This book is a critical assessment of the Neoclassical Synthesis, long regarded as the standard interpretation of Keynes. It offers a fresh interpretation of Keynes and makes an important contribution to post-Keynesian economics
Contending Economic Theories
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Author : Richard D. Wolff
language : en
Publisher: MIT Press
Release Date : 2012-09-07
Contending Economic Theories written by Richard D. Wolff and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-09-07 with Business & Economics categories.
A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.
Theory Of Unemployment
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Author : Arthur Cecil Pigou
language : en
Publisher: Routledge
Release Date : 2013-10-28
Theory Of Unemployment written by Arthur Cecil Pigou and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-28 with Business & Economics categories.
First Published in 1968. A reprinting of the original collection of essays on unemployment, from 1933, which are addressed to students of economics. Concerning the areas of the form of the real demand function for labour in particular occupations, the monetary factor, with the aim of a direct discussion on the causation of unemployment and its fluctuations.
The World Of Economics
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Author : John Eatwell
language : en
Publisher: Springer
Release Date : 1991-05-13
The World Of Economics written by John Eatwell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-05-13 with Business & Economics categories.
What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.
Neoclassical Synthesis
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Author : Fouad Sabry
language : en
Publisher: One Billion Knowledgeable
Release Date : 2024-02-13
Neoclassical Synthesis written by Fouad Sabry and has been published by One Billion Knowledgeable this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-02-13 with Business & Economics categories.
What is Neoclassical Synthesis The neoclassical synthesis (NCS), Neoclassical-Keynesian Synthesis, or just neo-Keynesianism was a neoclassical economics academic movement and paradigm in economics that worked towards reconciling the macroeconomic thought of John Maynard Keynes in his book The General Theory of Employment, Interest and Money (1936). It was formulated most notably by John Hicks (1937), Franco Modigliani (1944), and Paul Samuelson (1948), who dominated economics in the post-war period and formed the mainstream of macroeconomic thought in the 1950s, 60s, and 70s. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Neoclassical synthesis Chapter 2: Keynesian economics Chapter 3: Macroeconomics Chapter 4: Post-Keynesian economics Chapter 5: IS-LM model Chapter 6: Full employment Chapter 7: New Keynesian economics Chapter 8: Index of economics articles Chapter 9: John Hicks Chapter 10: Classical economics Chapter 11: The General Theory of Employment, Interest and Money Chapter 12: Edmund Phelps Chapter 13: Alvin Hansen Chapter 14: New classical macroeconomics Chapter 15: Paul Davidson (economist) Chapter 16: Paul Samuelson Chapter 17: Keynesian Revolution Chapter 18: History of macroeconomic thought Chapter 19: Disequilibrium macroeconomics Chapter 20: Mr. Keynes and the "Classics" Chapter 21: Marxism and Keynesian economics (II) Answering the public top questions about neoclassical synthesis. (III) Real world examples for the usage of neoclassical synthesis in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Neoclassical Synthesis.