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.
- ISBN10 0262061910
- ISBN13 9780262061919
- Publish Date 25 June 1997
- Publish Status Transferred
- Publish Country US
- Publisher MIT Press Ltd
- Imprint MIT Press
- Format Hardcover
- Pages 469
- Language English
- URL http://mitpress.mit.edu/9780262061919