Money And Macrodynamics
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| Author | : Marc Lavoie |
| Publisher | : Routledge |
| Total Pages | : 220 |
| Release | : 2015-03-26 |
| Genre | : Business & Economics |
| ISBN | : 1317464478 |
Alfred Eichner's pioneering contributions to post-Keynesian econmics offered significant insights on the way modern economies and institutions actually work. Published in 1987, his "Macrodynamics of Advanced Market Economies" contains rich chapters on dynamics and growth, investment, finance and income distribution, a timely chapter on the State and fiscal policy, and two analytical chapters on endogenous money that are years ahead of their time. Featuring chapters by many of Eichner's disciples, this book celebrates his rich contributions to post-Keynesian economics, and demonstrates that his work is in many ways as valid today as it was over two decades ago.
| Author | : Marc Lavoie |
| Publisher | : M.E. Sharpe |
| Total Pages | : 197 |
| Release | : 2010 |
| Genre | : Business & Economics |
| ISBN | : 0765626160 |
Alfred Eichner's pioneering contributions to post-Keynesian econmics offered significant insights on the way modern economies and institutions actually work. Published in 1987, his ""Macrodynamics of Advanced Market Economies"" contains rich chapters on dynamics and growth, investment, finance and income distribution, a timely chapter on the State and fiscal policy, and two analytical chapters on endogenous money that are years ahead of their time. Featuring chapters by many of Eichner's disciples, this book celebrates his rich contributions to post-Keynesian economics, and demonstrates that h ...
| Author | : Toichiro Asada |
| Publisher | : Routledge |
| Total Pages | : 449 |
| Release | : 2012-11-12 |
| Genre | : Business & Economics |
| ISBN | : 1135272328 |
This book investigates the interaction of effective goods demand with the wage-price spiral, and the impact of monetary policy on financial and the real markets from a Keynesian perspective. Endogenous business fluctuations are studied in the context of long-run distributive cycles in an advanced, rigorously formulated and quantitative setup. The material is developed by way of self-contained chapters on three levels of generality, an advanced textbook level, a research-oriented applied level and on a third level that shows how the interaction of real with financial markets has to be modelled from a truly integrative Keynesian perspective. Monetary Macrodynamics shows that the balanced growth path of a capitalist economy is unlikely to be attracting and that the cumulative forces that surround it are controlled in the large by changes in the behavioural factors that drive the wage-price spiral and the financial markets. Such behavioural changes can in fact be observed in actual economies in the interaction of demand-driven business fluctuations with supply-driven wage and price dynamics as they originate from the conflict over income distribution between capital and labour. The book is a detailed critique of US mainstream macroeconomics and uses rigorous dynamic macro-models of a descriptive and applicable nature. It will be of particular relevance to postgraduate students and researchers interested in disequilibrium processes, real wage feedback channels, financial markets and portfolio choice, financial accelerator mechanisms and monetary policy.
| Author | : Alfred S. Eicher |
| Publisher | : Routledge |
| Total Pages | : 819 |
| Release | : 2019-07-12 |
| Genre | : Business & Economics |
| ISBN | : 1315491958 |
This volume examines the macrodynamic behaviour of advanced economies with social institutions similar to those of the United States and other members of the Organization of Economic Cooperation and Development. It is a critique of, and provides alternative models to, conventional neoclassical theory. The principles developed are used to explain two major phenomena in economic life: the nation's secular growth rate and the cyclical deviations around that growth. These interdependent movements of trend and cycle constitute the economy's macrodynamic behaviour. Eichner uses a systems framework for integrating four distinct institutional dimensions in society - the normative, the political, the economic, and the anthropogenic. This book, by one of the leading proponents of Post-Keynesian economics, is the culmination of over 13 years of scholarly work. The author's untimely death in February 1988 prevented the final revisions of his manuscript. The book should prove an essential addition to the library of scholars and students of economics both within and outside the Post-Keynesian tradition.
| Author | : William Milberg |
| Publisher | : Routledge |
| Total Pages | : 336 |
| Release | : 2016-09-16 |
| Genre | : Business & Economics |
| ISBN | : 1315488922 |
These essays on Post-Keynesian economics were written expressly for a volume to honour the life and work of Alfred Eichner. The original countributions - that critically examine and extend ideas in Eichner's "The Macrodynamics of Advanced Market Economies" are organized in seven sections that correspond to areas of economics in which Eichner made a significant contribution. Part 1 deals with the megacorp, a theory of firm pricing and investment that was one of Eichner's most important contributions. Issues of productivity and technical change, that lie at the center of Eichner's macrodynamic model, are the focus of part 1 and parts 3 and 4 elaborate on Eichner's work on growth and money and yield insights into the theoretical disagreements among the Post-Keynesians themselves. Part 5 presents a number of examples of non-neo-classical model building. Part 6 opens with a critique of the "new economic history" that leads to other essays on thorny methodological issues confronting Post-Keynesians. Part 7 gives a European perspective on North American Post-Keynesian economics. The essays reveal the relationships between Eichner's work and Institutionalist and Marxian economics. At the same time, the book raises current theoretical conflicts among these groups as well as among Post-Keynesians themselves. This book compliments Alfred S.Eichner's "The Macrodynamics of Advanced Market Economies", also published in 1991, and is appropriate for scholars and upper-level undergraduates and graduate students.
| Author | : Toichiro Asada |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 544 |
| Release | : 2012-11-10 |
| Genre | : Business & Economics |
| ISBN | : 3540247939 |
In the first part of this book, we treat interacting and small open economies. We do this from an historical perspective, starting from the Classical model of the gold standard and the specie-flow mechanism and aim to show there that the Dornbusch IS-LM-PC approach, with or without rational expectations, can still be considered as a (if not the) core contribution to contemporaneous open economy macrodynamics, also on the level of structural macroeconometric model building. In the second part we then extend this analysis to the incorporation of more disequilibrium on the real markets, prominent further feedback channels of the macrodynamic literature and integrated macromodel building. We start from the closed economy, consider large open economies in a fixed exchange rate system, small open economies subject to high capital mobility, and finally two large interacting economies like the USA and Euroland. Our macrofounded approach extends and integrates non-market clearing traditions to macrodynamics and can be usefully compared with the New Keynesian approaches which are generally rigorously microfounded, but often much more limited in scope in capturing full market and agent interactions.
| Author | : Marc Lavoie |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 416 |
| Release | : 2020-09-25 |
| Genre | : Business & Economics |
| ISBN | : 1839100095 |
Post-Keynesian Monetary Theory recaps the views of Marc Lavoie on monetary theory, seen from a post-Keynesian perspective over a 35-year period. The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. All of the selected articles avoid mathematical formalism.
| Author | : Geoffrey Colin Harcourt |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 637 |
| Release | : 2013-07 |
| Genre | : Business & Economics |
| ISBN | : 0195390768 |
These two volumes cover the principal areas to which Post-Keynesian economists have made distinctive contributions. The contents include the significant criticism by Post-Keynesians of mainstream economics, but the emphasis is on positive Post-Keynesian analysis of the economic problems of the modern world and of policies with which to tackle them.
| Author | : G. C. Harcourt |
| Publisher | : Oxford University Press |
| Total Pages | : 637 |
| Release | : 2013-08-16 |
| Genre | : Business & Economics |
| ISBN | : 0199359296 |
This two volume Handbook contains chapters on the main areas to which Post-Keynesians have made sustained and important contributions. These include theories of accumulation, distribution, pricing, money and finance, international trade and capital flows, the environment, methodological issues, criticism of mainstream economics and Post-Keynesian policies. The Introduction outlines what is in the two volumes, in the process placing Post-Keynesian procedures and contributions in appropriate contexts.
| Author | : Peter Flaschel |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 402 |
| Release | : 2008-12-11 |
| Genre | : Business & Economics |
| ISBN | : 3540879323 |
This book provides an introduction to advanced macrodynamics, viewed as a di- quilibriumtheoryof?uctuatinggrowth. Itbuildsonanearlierattempttoreformulate 1 the foundations of macroeconomics from the perspective of real markets diseq- librium and the con?ict over income distribution between capital and labor. It does so, not because it wants to support the view that this class con?ict is inevitable, but with the perspective that an understanding of this con?ict may help to formulate socio-economic principles and policies that can help to overcome class con?ict at least in its cruder forms or that can even lead to rationally understandable proce- 2 dures and rules that turn this con?ict into a consensus-driven interaction between 3 capitalists or their representatives and the employable workforce. The book starts from established theories of temporary equilibrium positions, the forces of real growth, and the con?ict over income distribution, represented by basic modeling approaches, which it considers in detail in its Part I in order to prepare the ground for their integration in Part II of the book. In this way we inspect what types of models of disequilibrium, income distribution, and real growth we have at our disposal, as models that have proved to be of real interest and sound from a rigorous modeling perspective.
