Macroeconomic Theory 1st Edition at Meripustak

Macroeconomic Theory 1st Edition

Books from same Author: Bohm

Books from same Publisher: Springer Velage

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  • General Information  
    Author(s)Bohm
    PublisherSpringer Velage
    Edition1st Edition
    ISBN9783319601489
    Pages440
    BindingHardcover
    LanguageEnglish
    Publish YearNovember 2017

    Description

    Springer Velage Macroeconomic Theory 1st Edition by Bohm

    This textbook offers a unique approach to macroeconomic theory built on microeconomic foundations of monetary macroeconomics within a unified framework of an intertemporal general equilibrium model extended to a sequential and dynamic analysis. It investigates the implications of expectations and of stationary fiscal policies on allocations, on the quantity of money, and on the dynamic evolution of the economy with and without noise. The text contrasts and compares the two main competing approaches in macroeconomics within the same intertemporal model of a closed monetary economy: the one postulating full price flexibility to guarantee equilibrium in all markets at all times under perfect foresight or rational expectations, versus the so called disequilibrium approach where trading occurs at non- market-clearing prices and wages when these adjust sluggishly from period to period in response to market disequilibrium signals.